India has climbed 23 places to reach the 77th spot among 190 nations in World Bank’s Ease of Doing Business ranking. The advance – the second big jump in a row — marks a step forward in Narendra Modi government’s efforts to ease processes and project a business-friendly environment. Last year, India has progressed 30 positions to reach the top 100.
In its annual ‘Doing Business’ 2019 report, World Bank said India has improved on six of the 10 parameters relating to starting and doing business in a country.
The parameters include ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency, reported news agency Press Trust of India.
“India has been recognised among top 10 improvers for the second consecutive year,” said the Secretary of the Department of Industrial Policy and Promotion. “India is now ranked first among South Asian countries compared to the sixth rank in 2014,” he added.
When the NDA government came to power in 2014, India stood 142nd in World Bank’s “Doing Business” list. Over the last four years, it showed consistent forward movement.
The latest jump comes in an election year, as the government is under opposition attack for what it calls the “failure” of PM Modi’s “Make in India” initiative. Congress chief Rahul Gandhi has consistently attacked the government, saying instead of Make in India, “Everything is made in China”.