In what can be seen as a big achievement of the Modi government, India climbed 23 ranks in the World Bank's latest ease of doing business rankings.
The 23-spot jump saw India climb to the 77th rank - the highest among South Asian countries, and the third highest among BRICS nations.
The report analysed 190 countries.
Here are the details.
In terms of overall rankings, the Modi government registered a significantly improved performance compared to the UPA government before it.
Whereas India's overall ease of doing business ranking was 142 in 2014, the ranking consistently improved - 130 in 2015, 130 in 2016, 100 in 2017, and 77 in 2018.
For comparison, India's ranking was near static, and actually declined from 2011-2014.
India jumps 65 notches since 2014, now ranks on 77th position as per World Bank Ranking in the #EaseOfDoingBusiness. pic.twitter.com/mUBMgbDEYK— MyGovIndia (@mygovindia) October 31, 2018
India jumps 65 notches since 2014, now ranks on 77th position as per World Bank Ranking in the #EaseOfDoingBusiness. pic.twitter.com/mUBMgbDEYK
The overall ease of doing business rankings are based on five indicators.
Among these indicators, India's rank in construction permits went from 181 in 2017 to 52 in 2018 - a whopping 129-spot jump.
Similarly, India registered a 66-spot jump in trading across borders.
In terms of getting electricity and getting credit, India ranked among the top 25 nations in the world.
A snapshot of India's indicator wise improvement in #EaseOfDoingBusiness rankings from 2017 to 2018 pic.twitter.com/r8wWSOVYkw— PIB India (@PIB_India) October 31, 2018
A snapshot of India's indicator wise improvement in #EaseOfDoingBusiness rankings from 2017 to 2018 pic.twitter.com/r8wWSOVYkw
Understandably, India has been recognized by the World Bank as one of the top countries in 2018 in terms of improvement in ease of doing business.
In this year's report, India again featured among the top 10 nations in terms of improvement, securing its spot in the top 10 improvers list for the second year in a row.
Want to share it with your friends too?
Love Business news?
Subscribe to stay updated.