"Historic jump in 'Ease of Doing Business' rankings is the outcome of the all-round & multi-sectoral reform push of Team India," PM Modi tweeted.
India has jumped 30 places to rank 100th in the World Bank's 'ease of doing business' ranking, helped by a slew of reforms in taxation, licensing, investor protection and bankruptcy resolution.
"Over the last 3 years we have seen a spirit of positive competition among states towards making business easier. This has been beneficial," the prime minister said.
He said it has never been easier to do business in India.
"India welcomes the world to explore economic opportunities our nation has to offer," PM Modi said.
"Easier business environment is leading to historic opportunities for our entrepreneurs, particularly MSME sector & bringing more prosperity," he added in another tweet.
"Guided by the Mantra of 'Reform, Perform & Transform' we are determined to further improve our rankings & scale greater economic growth," PM Modi said.