New Delhi:
India has jumped 23 places in the World Bank ease of doing business ranking  for 2018. 

It was at 100th place last year and now it is at 77th rank. India is now recognised as among top ten improvers for the 2nd consecutive year. It is now ranked first among South Asian countries compared to 6th rank in 2014.


The report recognises India as one of the top 10 improvers in this year’s assessment, for the second successive time. India is the only large country this year to have achieved such a significant improvement.


In the last two years the country has climbed 53 notches, and has become the top ranked country in South Asia for the first time and third among the BRICS nations.

The jump is significant, as it comes after last year’s 30-rung climb when India moved into the top 100 rankings among 190 countries.

Prime Minister Narendra Modi has expressed his happiness on the rise of India’s ‘Ease of Doing Business’ rank. In a tweet, Mr Modi said, government is unwavering in the commitment towards economic reforms, which will ensure an environment that fosters industry, investment and opportunities.

Briefing reporters in New Delhi, Finance Minister Arun Jaitley said, Prime Minister Narendra Modi had set the aim of reaching top 50 of the rankings and we have improved steadily from 142 to 77 in the last 4 years. 


He said, Department of Industrial Policy and Promotion, DIPP has worked on how to up the ranking on each criteria.  Jaitley said, reaching to 50 from the 142nd position is an unprecedented growth in World Bank business Ratings. 


Jaitley wrote, India under the NDA government is now just 27 places away from top 50, having made remarkable progress on construction activity, getting electricity, and trading across borders. “Only a focussed and a purpose oriented government could have achieved this,” he said. 

Jaitley said there are many reforms in the works that would be recognised over the  few years. On ‘Payment of Taxes’ and ‘Resolving Insolvency’ categories, the GST and the NCLT mechanisms are in place, he said. “Early results seem to be quite encouraging and when this full year’s performance is taken into consideration, it would be logical to assume that we will move up significantly in these two categories,” he wrote


On ‘Enforcement of Contracts’ where India is still ranked at 163, Jaitley said the Specific Relief Act has been amended to make the law enforceable, leaving damages as only exception. Commercial courts have been set up in different districts and the Arbitration Act has been amended to provide for expeditious arbitrations and the least judicial intervention. These should help boost rankings next year.


He said India has to make a special effort to improve in relation to ‘Starting a Business’ category.


Speaking on the occasion, Commerce and Industry Ministry Suresh Prabhu said, India has moved up 53 ranks in the last two years, reflects the government commitment to implement progressive reforms. 


He said, it is all because of teamwork of Central government, State governments and Local government. Mr Prabhu said, government has taken several initiatives to improve Ease Of Doing Business in the districts which has led to overall improvement at the national level.