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India’s moves up 14 places in World Bank’s ease of doing business index, now ranked at 63

India’s moves up 14 places in World Bank’s ease of doing business index, now ranked at 63

Economy

GlobalLinker Staff

GlobalLinker Staff

25 Oct 2019, 17:30 — 2 min read

India has improved by 14 places in the World Bank’s global ‘Ease of Doing Business’ index and is now ranked at 63. Last year, India had jumped 23 places to reach the 77th position.

India is one of 10 economies with the most notable improvement in Doing Business 2020. India made trading across borders easier by cutting the costs and time associated with border and documentation requirements. 

 

Of the 190 countries evaluated, New Zealand topped the list, followed by Singapore, Hong Kong and Denmark. Those economies that score well on Doing Business tend to benefit from higher levels of entrepreneurial activity and lower levels of corruption.

India one of 10 most improved places to do business

India is one of 10 economies with the most notable improvement in Doing Business 2020. India made trading across borders easier by cutting the costs and time associated with border and documentation requirements. The ‘Make in India’ initiative and other reforms have attracted foreign investment. In its 'Doing Business' 2020 report, the World Bank commended the reform efforts undertaken by India, “given the size of the country."

Apart from India, other countries that improved the most in their ease of doing business score are Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, and Nigeria.

Parameters for measuring ease of doing business

The World Bank’s Doing Business 2020 report ranks economies on their ease of doing business across various parameters.

These parameters include:

  • Starting a business
  • Employing workers
  • Dealing with construction permits
  • Getting electricity
  • Registering property
  • Getting credit
  • Protecting minority investors
  • Paying taxes
  • Trading across borders
  • Enforcing contracts
  • Resolving insolvency

 

What does Doing Business measure

Courtesy: Doing Business 2020

 
Image courtesy: shutterstock.com 

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GlobalLinker Staff

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