India moved up 14 places to the 63rd position on the World Bank’s ease of doing business ranking
India moved up 14 places to the 63rd position on the World Bank’s ease of doing business ranking after rating agencies slashed the country’s growth forecasts amid an economic slowdown. India also figured among the the top 10 performers for the third time in a row in the list released on Thursday.
India was ranked 142nd among 190 nations when Prime Minister Narendra Modi took office in 2014. Five years of reforms including insolvency and bankruptcy code, GST, among others pushed India to 77th position in 2019. It was 130th in 2017 when it was ranked lower than Iran and Uganda.In its ‘Doing Business’ 2020 report, the World Bank commended the reform efforts undertaken by the country “given the size of India’s economy”.
Apart from India, the other countries on this year’s ‘top 10 performers’ list are Saudi Arabia (62), Jordan (75), Togo (97), Bahrain (43), Tajikistan (106), Pakistan (108), Kuwait (83), China (31) and Nigeria (131).