India's rise in World Bank's ease of doing business rankings
Authored By Wion Web Desk
Published: Oct 30, 2017, 21:04 IST | Updated: Oct 30, 2017, 21:04 IST
India has improved considerably when it comes to ease of doing business, according to the latest World Bank rankings released on Tuesday. This will greatly help India showcase its business-friendly image and attract wizards of the industry.
1 / 10
India's trend in the last 5 years
Higher rankings on the Ease of Doing index reflect better and simpler regulation process and stronger protection of rights. The report is announced by the World Bank after a detailed survey of different markets.
2 / 10
Trading across borders
Trading across borders, one of the indicator sets published by the Doing Business report ranked India at 146 this year, down from 143 in 2017.
3 / 10
Resolving insolvency
The insolvency and bankruptcy law to make a smoother end to failed businesses was passed in 2016, it was executed in the beginning of 2017. This is another indicator which, in due course, lead to India's raking of 103 this year, from 136 in 2016.
4 / 10
Enforcing contract
Under the section of enforcing contract, India stands 164, up 8 points from 2016. Improving this rank is a priority for the government, which has taken several steps to enable this.
5 / 10
Paying taxes
On paying taxes, India's rank is 179 for the year, down from 172 in 2016. This particular criterion is likely to drive India's improved position in ease of doing business. The introduction of the Goods and Services Tax (GST), indicated to the world that India is not only streamlining its taxation system, but also striving to improve the ecosystem for business.
6 / 10
Protection of minority
India's global ranking in terms of protection of minority investors reached a great position of number 4 this year, up from 13 in 2016
7 / 10
Getting Electricity
For ?Getting Electricity?, World Bank weighs the performance on 4 indicators - Number of procedures, time for obtaining a commercial electricity connection, cost for obtaining a commercial electricity connection upto 140 KVA, reliability of power supply. The rank dropped down three points in Getting electricity connection - from 26 in 2016 to 29 in 2017
8 / 10
Getting credit
India took a leap in terms of Getting credit - from 44 in 2016 to 29 in 2017
9 / 10
Dealing with construction permit
India rose from 185 in 2016 to 181 in 2017 in Dealing with construction permit, which measures the procedures, time and cost required for a business in the construction industry to build a warehouse and the quality of building regulations.
10 / 10
Start a Business
India only decreased marginally in the Start a business parameter, moving down one point from 155 in 2016 156 in 2017
)
)
)
)
)