Ease of Doing Business ranking 2018: India makes the big leap into top 100

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Prime Minister Narendra Modi has made it easier to do business in India, according to the World Bank, which showed the country moving up 30 places from last year’s ranking.

 

India ranked 100th out of 190 countries after it implemented reforms in most indicators, including starting a business, getting credit, paying taxes and resolving insolvency.

“It indicates India’s endeavor to further strengthen its position as a preferred place to do business globally,” Annette Dixon, World Bank vice-president for South Asia, said at a media conference in New Delhi.

India was ranked 142 during Modi’s first year in office in 2014. At that time the country was battling perceptions of excess red-tape and policy paralysis, leaving investors concerned about the $2 trillion economy. Modi, who won the 2014 elections on a pledge of improving ease of doing business, set a target to place India among top 50 and in the last two years has attracted record foreign direct investment.

 

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