India ranks at 77 in the World Bank's 'Ease of doing business'
New Delhi, Oct 31: India ranked at 77 in the World Bank's 'Ease of doing business' index. India has recorded a jump of 23 positions against its rank of 100 in 2017.
India has improved its rank by 53 positions in the last two years, and 65 positions in the last four years (2014-18).
In last 4 years, India has become a business friendly country. Tremendous jump in the #EaseofDoingBusiness from 132 to 77.— Onkar Pandey (@iOnkarPandey) October 31, 2018
Reform, Perform, Transform mantra of Modi paying off. pic.twitter.com/gxfQkRlMh8
In its annual report 'Doing Business' 2019 report, World Bank said India improved on six of the 10 parameters relating to starting and doing business in a country.
These parameters include ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency.
India was ranked at the 142nd position among 190 nations when the Modi government came to power in 2014. It rose to the 100th spot in the last ranking from 131st rank in the previous year. New Zealand tops the list of 190 countries in ease of doing business, followed by Singapore, Denmark, and Hong Kong.
The United States is placed eight and China have been ranked 46th. Neighbouring Pakistan is placed at 136. World Bank put India among the top 10 economies to make the most improvements.
Commerce and Industry Minister Suresh Prabhu had hinted at big improvement in India's ranking in a press conference yesterday. "You will be hearing a better news about India improving parameters on ease of doing business. We already have improved substantially. We will make the formal announcement tomorrow with the World Bank [releasing its report]," he had announced yesterday.
(With PTI inputs)