The Indian government was disappointed that the World Bank did not take into consideration the 12 key reforms it has undertaken. Photograph: (AFP)
India was placed 130th and Pakistan 144th in World Bank's ease of doing business report
India was placed 130th in World Bank's 'Doing Business 2017' report, while Pakistan was ranked 144th.
The annual report scrutinises the feasibility of conducting businesses around.
Nepal and Bhutan fare better than both India and Pakistan.
In South Asia, Bhutan tops the list with a ranking of 73, followed by Nepal at 107 and Sri Lanka at 110. Afghanistan was placed at 183rd spot. (Source: Doing Business)
Around 190 countries have been based on ten parameters: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
In the latest report, New Zealand tops the chart, with Singapore coming second. Denmark, Hong Kong, South Korea, Norway, the UK, the US and Sweden come next.
Countries which have shown vast improvement include Brunei Darussalam, Kazakhstan, Kenya, Belarus, Indonesia, Serbia, Georgia, Pakistan, United Arab Emirates and Bahrain.
"What we have seen is a remarkable effort on the part of the government to implement business reforms. It looks like we are going to have to wait for another year or so. But the direction of change is fundamentally a very significant one," Augusto Lopez-Claros, Global Indicators Group Director told PTI in an interview.
In the latest report, India improved its place by one spot from its last year's ranking.
The Indian government is trying to improve the conditions for carrying out business in the country. It was disappointed that the report did not consider 12 important reforms started by them.
(WION with inputs from PTI)