India Climbs Up to 63rd Rank in Ease of Doing Business Rankings

Climbing up 14 places in the World Bank’s Ease of Doing Business 2020 survey, India became one of the top 10 most improved countries for the third consecutive time. India stands at 63rd position. India improved on 7 out of 10 indicators and as per the World Bank, the country is now moving closer to international best practices.

Crux of the Matter

1. From 2014 to 2019 India’s rank improved from a dismal 142nd position to 77th position last year. 

2. India also saw the biggest jump in ranking in “resolving insolvency” category, to 52nd rank from 108th.

3. The sharp rise is being credited to the successful implementation of insolvency and bankruptcy code and it is expected to help the country lure multinational companies, looking at alternatives to China for investment amid the ongoing US-China trade war.

4. The World Bank said, “India conducted four reforms in the 12-month period. Among other improvements, India made the process of obtaining permits more efficient. In addition, authorities enhanced building quality control by strengthening professional certification requirements. Importing and exporting also became easier for companies with the creation of a single electronic platform for trade stakeholders, upgrades to port infrastructure and improvements to electronic submission of documents.”

Curiopedia

The Ease of Doing Business report is a benchmark study of regulation. The survey consists of a questionnaire designed by the Doing Business team with the assistance of academic advisers. The questionnaire centres on a simple business case that ensures comparability across economies and over time. The next step of gathering data surveys of over 12,500 expert contributors in 190 countries who deal with business regulations in their day-to-day work. The individuals interact with the Doing Business team in conference calls, written correspondence, and visits by the global team. Data from the survey is subjected to several rounds of verification. More Info

Curated Coverage

1. The Hindu – India climbs 14 notches in ease of doing business ranking

2. India Today – India not a place for starting business, says ease of doing business report

3. Time Of India – ‘Ease of doing business’ rankings improves but wooing investors requires reform and correction on government’s part

4. Live Mint – India’s rank jumps 14 places in World Bank’s ease of doing business ranking

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