India recorded a jump of 23 positions in the World Bank's annual ranking of ease of doing business, the government said in a statement on Wednesday. India now ranks 77th in the annual list, as against 100 last year. The commerce ministry said that the improvement of 23 positions in the Ease of Doing Business ranking is significant. It said that last year, the country had registered a jump of 30 places, "a rare feat for any large and diverse country of the size of India".
The country's rank improved in six out of 10 indicators. The government also said that the "most dramatic improvements have been registered in the indicators related to 'Construction Permits' and 'Trading across Borders'".
|Trading Across Borders||146||80||66|
|Starting a Business||156||137||19|
India has improved its rank by 53 positions in last two years and by 65 positions in last four years, the government noted.
The ministry further said that the improvement in the annual ranking was a result of continued efforts by the government.
"We have made progress in leaps and bounds, probably the most significant in the history of Ease of Doing Business," Finance Minister Arun Jaitley said.
India has moved up 53 ranks in the last two years, the highest improvement in 2 years by any large country since 2011 reflecting our Govt's commitment to implement progressive reforms.#IndiaMeansBusiness#EoDBSuresh Prabhu (@sureshpprabhu) October 31, 2018
The World Bank recognised India as one of the top improvers for the second consecutive year. India is now placed at first position among South Asian countries as against 6th in 2014, according to the World Bank report.
The World Bank pointed out eight indicators in which India improved its rank over last four years.
|Trading across Borders||126||80||+46|
|Starting a Business||158||137||+21|
The World Bank's index of Ease of Doing Business provides objective measures of business regulations and their enforcement across 190 economies on ten parameters affecting a business through its life cycle, according to the statement.