India ranked 77th among 190 countries by leapfrogging 23 ranks in World Bank’s Ease of Doing Business (EODB) 2018 rankings. In the 2017 rankings, India ranked 100th and had jumped 30 places. In 2016, 2015 and 2014, India had not improved much and was placed at 130, 131 and 134, respectively, in ranking.
Ease of Doing Business Index :
The index ranks 190 countries based on 10 indicators across the life-cycle of a business, from “starting a business” to “resolving insolvency.” These 10 indicators are: Starting business, Dealing with construction permits, Getting electricity, Registering property, Getting credit, Protecting minority investors, Paying taxes, Trading across borders, Enforcing contracts and Resolving insolvency.
India’s jump in ranking in EODB 2019 was aided largely by improvement in areas such as “trading across borders”, “dealing with construction permits”, “getting electricity”, “getting credit” and “starting a business”.
It has improved in rank in six out of ten indicators. It has moved closer to international best practice. India’s score also improved to 67.23, a gain of 6.63 from last year.
It is only other country, alongside Djibouti, to be in top ten for second year in row. Two economies with largest populations — China and India — demonstrated “impressive reform agendas”.