India Jumps 23 Positions To 77 Rank in World Bank’s Doing Business Report

India Jumps 23 Positions To 77 Rank in World Bank’s Doing Business Report

has recorded a jump of 23 positions against its rank of 100 in 2017 to be placed now at 77thrank among 190 countries assessed by the Bank. India’s leap of 23 ranks in the Ease of Doing Business ranking is significant considering that last year had improved its rank by 30 places, a rare feat for any large and diverse country of the size of As a result of continued efforts by the Government, India has improved its rank by 53 positions in last two years and 65positions in last four years.

The Doing Business assessment provides objective measures of business regulations and their enforcement across 190 economies on ten parameters affecting a business through its life cycle. The DBR ranks countries on the basis of Distance to Frontier (DTF), a score that shows the gap of an economy to the global best practice. This year, India’s DTF score improved to 67.23 from 60.76 in the previous year.

India has improved its rank in 6 out of 10 indicators and has moved closer to international best practices (Distance to Frontier score) on 7 out of the 10 indicators. But, the most dramatic improvements have been registered in the indicators related to ‘Construction Permits’ and ‘Trading across Borders’.

In grant of construction permits, India’s rank improved from 181 in 2017 to 52in 2018, an improvement of 129 ranks in a single year. In ‘Trading across Borders’, India’s rank improved by 66 positions moving from 146 in 2017 to 80in 2018.

The Bank has recognized India as one of the top improvers for the year. This is the second consecutive year for which India has been recognized as one of the top improvers, the Bank said. India is the first BRICS and South Asian country to be recognized as top improvers in consecutive years. Also, India has recorded the highest improvement in two years by any large country since 2011 in the Doing business assessment by improving its rank by 53 positions. As a result of continued performance, India is now placed at first position among South Asian countries as against 6th in 2014.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)