India is among the top 10 economies where
business climates improved the most, as per the World
Bank’s Doing Business 2020 report. The country saw its
ranking in the World Bank’s ‘Ease of Doing Business’ index jump to 63 for
2018-19 from 77 in the previous year. And, this is the
third time India featured on this list. In fact, among South Asian countries,
India continues to be the region’s top ranked economy.
The 10 areas measured in the report are: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. An additional area of employing workers is also measured but is not included in the rankings.
Here’s a glimpse of where India stands under the above-mentioned parameters:
Parameter | 2020 | 2019 Rank |
Starting a business | 136 | 137 |
Dealing with construction permits | 27 | 52 |
Getting electricity | 22 | 24 |
Registering property | 154 | 166 |
Getting Credit | 25 | 22 |
Protecting Minority Investors | 13 | 7 |
Paying Taxes | 115 | 121 |
Trading across Borders | 68 | 80 |
Enforcing Contracts | 163 | 163 |
Resolving Insolvency | 52 | 108 |
Overall | 63 | 77 |
Commenting on the India’s ranking, Sangeeta Prasad, Managing Director & CEO, Mahindra Lifespace
Developers, said, “India’s
advancement in the World Bank's Ease of Doing Business rankings for the third
year in a row reflects the government’s efforts and commitment towards
long-lasting economic reform. We expect the jump in rankings will attract
investments in the near future.”