India moves up 23 places in 'Ease of Doing Business' rankings

NEW DELHI: India has jumped 23 places to 77th rank in the global Ease of Doing Business rankings thanks to feedback from stakeholders that it is now significantly simpler to get construction permits and ship goods across the country’s borders.
The report released by the World Bank makes India one of the biggest gainers in the list that covers 190 countries. Among the BRICS nations, only China, which was last year ranked 78th has logged smarter gains, rising to 46th place.Finally, India has also emerged as the easiest place to do business in South Asia.


Read: Full report released by World Bank

Including the improvement made last year, India has moved up 53 places in two years and 65 since the Narendra Modi government came to power. The latest rankings will come as a relief for the BJP government that has been battling criticism on the economic front amidst a weak currency and a widening current account deficit, which is the difference between exports and imports, foreign investment flows and remittances. While the rankings are an important ingredient in deciding investments, investors look at multiple factors while deciding on their final destination to set up a factory.



In the latest rankings, India has improved its ranking on six of the 10 parameters through intensive consultations with municipal bodies in Mumbai and Delhi, where the World Bank conducts its study, along with departments at the Centre and the states.