How has been India’s performance in Ease of Doing Business Rankings, 2019?
The ease of doing business rankings are released by the World Bank annually. It is based on the average of 10 sub indices of Starting a business ,Dealing with construction permits , Getting electricity , Registering property , Getting credit , Protecting investors, Paying taxes, Trading across borders, Enforcing contracts and Resolving insolvency
Ease of doing business 2019 and India:
- India has leapfrogged to the 77th rank in the World Bank’s Ease of Doing Business rankings jumping 23 notches from last year
- The report recognises India as one of the top 10 improvers in this year’s assessment. India is the only large country this year to have achieved such a significant shift.
- India’s performance is significant for the fact that it comes after last year’s 30-rung climb when India moved into the top 100 rankings among 190 countries.
- India’s rankings have been improved by 53 positions in the last two years, and 65 positions in the last four years.
- On the indices of “distance to frontier metric” which measures to gauge how far an economy’s policies are from global best practices India’s score has improved to 67.23 from 60.76 last year.
- India is in the top 10 of Protecting Minority Investors.
- India’s position has improved in six out of the 10 indicators and has moved closer to international best practices on seven out of 10 indicators.
- Under the ‘Grant of Construction Permits’ indicator India’s ranking has improved from 181 last year to 52 in this year’s report. This is a jump of 129 ranks in a single year.
Under the ‘Trading among Borders’ indicator, India’s rank has improved by 66 positions, moving from 146 in 2017 to 80 in 2018.