Will India’s ranking in ‘ease of doing business’ improve? Government anticipates a “good news”

It is clear from various initiatives taken up by the government ever since it came in power that they want to project India as one of the best countries to do business in and to do business with. Therefore the World Bank’s ‘ease of doing business’ survey 2018 which is slated to be released on October 31 is something that the government is eagerly waiting for. The report is likely to give a clearer view of where India stands in terms of ‘ease of doing business’ compared to other countries. Top officials in the government have reason to believe that India’s ranking may improve significantly in the World Bank’s ease of doing business report on the back of reforms initiated by the government. “We have worked very hard so we are definitely expecting,” DIPP Secretary Ramesh Abhishek told when asked if the country’s ranking would improve. “The World Bank’s Doing Business report is going to come out on 31 October and we hope to see a significant improvement because of the large number of work that we have done,” Abhishek said. Commerce and Industry Minister Suresh Prabhu had recently hinted about the same, saying the country would soon hear “good news” on the ease of doing business front. The government’s optimism regarding the improvement in India’s rank comes on the back of reforms taken to improve the efficiency in granting construction permits, starting a business and resolving insolvency. The ease of doing business ranking is taken seriously by participating countries as they believe it plays a key role in helping foreign investors decide where to invest. In the last three-and-a-half years, India has received foreign direct investment (FDI) of above USD 170 billion, the DIPP secretary pointed out. India’s rank inched up by just one place to 130 in the last year’s survey that measures the ease of doing business in various countries


Source – Business Insider India