Escalating an upswing in Ease of Doing Business, India jumps 23 spots high to rank 77th in World Bank’s report

New Delhi, October 31: India on its economic stature has been working exceptionally well. India leapfrogged to the 77th rank in the World Bank's latest Ease of Doing Business rankings, jumping 23 notches from last year, a news that is likely to bring cheer for the country with better opportunities in the near future.

The World Bank report shows 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 shift. 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.

 

India has improved its rank by 53 positions in the last two years, and 65 positions in the last four years (2014-18). On the “distance to frontier metric”, a measure to gauge economy’s policies are from global best practices, India’s score improved to 67.23 from 60.76 last year. This means last year India improved its business regulations in absolute terms indicating that the country is continuing its steady shift towards global standards.

 

The most dramatic improvements have been registered in the indicators related to 'Construction Permits' and 'Trading across Borders'. In grant of construction permits, India's rank improved from 181 in 2017 to 52in 2018, an improvement of 129 ranks in a single year. In 'Trading across Borders', India's rank improved by 66 positions moving from 146 in 2017 to 80in 2018.

 

Highlighting the features of India’s outstanding performances in 2018:

• The World Bank has recognized India as one of the top improvers for the year.
• This is the second consecutive year for which India has been recognized as one of the top improvers.
• India is the first BRICS and South Asian country to be recognized as top improvers in consecutive years.
• India has recorded the highest improvement in two years by any large country since 2011 in the Doing business assessment by improving its rank by 53 positions.