Ease of Doing Business - India's rank improves
INDIA now ranks 130 out of 189 countries in the Ease of Doing Business according to a World Bank Group Report. Our rank was 142 last year. According to World Bank Chief Economist and Senior Vice President Kaushik Basu, "A forward movement of 12 spots in the ease of doing business by an economy of the size of India is a 'remarkable achievement."
China is ranked 84 and Pakistan is at 138th place. Pakistan slipped 10 spots from 128 in 2014 while China has moved six spots in a year from 90 since the last report. Singapore remains at the top.
India shows the potential gains many countries could make by pushing through economic overhauls. The government has enacted a number of policies that have bolstered investor and business confidence. For example, eliminating the minimal capital requirement needed to start a company and cutting the bureaucratic red tape needed to get electricity helped propel the country up four spots in the rankings. The government's economic restructuring efforts have helped avert financial turmoil and make the country the fastest-growing major emerging market in the world.