WASHINGTON (TIP): India has a lot of hard work ahead of itself to make it to the top 50 countries on the World Bank’s Doing Business list. It was ranked 130 in ranking for 2017 released on Tuesday, moving up just one small rung over 131 in 2016.
The DIPP said in a statement that over the past two years, the government has implemented a host of reforms to make it easier for businesses to start, operate and exit.
“It is therefore disappointing that these achievements are not covered by the report due to methodological issues,” it said on Tuesday. The top 10 positions went to the usual suspects: New Zealand was first followed by Singapore, Denmark, Hong Kong, Republic of Korea, Norway, United Kingdom, United States, Sweden and Macedonia. And based on reforms undertaken, Pakistan was among the top 10 improvers. India has a long way to go, evidently, before it makes it to the top 50 group, a goal set for his government by Prime Minister Narendra Modi. In fact, on a key criterion of Doing Business,
“Starting a Business”, India has slipped four positions from 151 in 2015 to 155, It also fell on “Dealing with Construction permits” (184 to 186), “getting credit” (42 to 44),
“Protecting ministry investors
(10 to 13). Source: HT