DIPP expects significant jump in Ease of Doing Business ranking

Posted by Daily Shipping Times on 27-10-2017        Tweet

NEW DELHI: World Bank's Ease of Doing Business report on the back of reforms initiated by the Government, a top official said recently.

The World Bank's 'Ease of Doing Business' survey 2018 is slated to be released on October 31.

"We have worked very hard so we are definitely expecting,"

DIPP Secretary Ramesh Abhishek said when asked if the Country's ranking would improve.

Commerce and Industry Minister Suresh Prabhu had recently hinted about the same, saying the Country would soon hear "good news" on the Ease of Doing Business front.

The Government's optimism regarding the improvement in India's rank comes on the back of reforms taken to improve the efficiency in granting construction permits, starting a business and resolving insolvency.

In the last three-and-a-half years, India has received foreign direct investment (FDI) of above USD 170 billion, the DIPP secretary pointed out.

India's rank inched up by just one place to 130 in the last year's survey that measures the Ease of Doing Business in various countries.

The Ease of Doing Business ranking is taken seriously by participating countries as they believe it plays a key role in helping foreign investors decide where to invest.