India is No 77 in the World Bank’s “Ease of Doing Business 2019”
India is in place 77 in the World Bank’s index “Ease of Doing Business 2019” after climbing 23 places from the previous year. The factors that contributed most to the improvement were more effective processes for building permits, building quality and entrepreneurship, faster electricity supply, strengthened credit access, and simplified border trade. The digitalization of the economy, the implementation of national VAT (GST) and the new bankruptcy law also contribute.
Field investigations and interviews with corporate lawyers and business executives in Delhi and Mumbai form the basis of the index, which may have benefited the country due to the cities’ digitization efforts. Prime Minister Modi aims to reach the top 50 on the scale within five years through more efficient public procurement, increased tax revenues, higher degree of executed contracts, easier corporate formation and registration of ownership rights.
Click here to read more.