India jumps 23 places in global ease of doing business rankings

6:28 pm
Kenyans walking in Nairobi Twitter

6:28 pm rising Kenyans walking in Nairobi Twitter

It is gratifying to see India's rise in the Ease of Doing Business ranking, by 23 places this year, positioning it among the most improved economies for the second year running.

And that seemed to have paid off. India's ranking in dealing with construction permits-one of the 10 parameters the World Bank looks at-jumped to 52 from 181 previous year. As a result, the country significantly improved its global ranking in this area to 53, from 82 a year ago. Besides, the Congress has persistently pointed to what it calls the "failure" of PM Modi's "Make in India" initiative.

The World Bank's latest Doing Business Report 2019 released on Wednesday showed that various measures undertaken by the government had helped India jump 23 places from its rank of 100 in 2017.

Regulations affecting 11 areas of the life of a business are covered: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labour market regulation. "But there has been a record improvement in ranking", Jaitley added. In the area of construction permits, the country's ranking has improved by a whopping 129 points, 66 in "trading across borders", the ministry said.

According to the Doing Business 2019 - Training for Reforms report, last year's reforms accelerated Turkey's efforts to improve the business climate for domestic small and medium enterprises - SMEs. Djibouti, the only economy from West Asia and North Africa region in the list of 10 top improvers this year.

India was ranked at the 142nd position among 190 nations when the Modi government came to power in 2014. He explained ease of doing business as the process to maximise governance with minimum involvement of government staff and procedures to guide the investment environment. "By implementing the Single Window Clearance System in Delhi and the Online Building Permit Approval System in Mumbai during the second half of 2017", said World Bank.

"We are incentivising those who are doing honest business", Ramesh Abhishek, an official in the industries department of Modi's government, told a news conference on Wednesday. As a result, the time to start a business has been halved to 16 days, from 30 days. "You have to crack the code and try and improve on the criterion in which we lack".

Ghana's progress reflects reforms in three key areas.

Last year, Kenya ranked 29 in ease of access to credit, with the popularity of mobile loan applications fueling the rapid rise. The report notes that India has supported its ambitious reform agenda by providing regular training to both customs officials and private sector agents, as well as by establishing Customs Clearance Facilitation Committees which bring together actors involved in global trade at regular meetings.

Latest News