Business

India Jumps 23 Ranks To Stand At 77 In World Bank's Ease Of Doing Business Rankings

ASHISH MEENA | 0
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| October 31 , 2018 , 20:07 IST

India on Wednesday has climbed 23 places in the World Bank's (WB) latest ease of doing business rankings (DBR) to stands at 77 among 190 countries assessed by the multilateral lender.

The World Bank's latest Doing Business Report 2019 released showed that various measures undertaken by the government had helped India jump 23 places from its rank of 100 in 2017. The country had entered the top 100 last year with a bigger jump of 30 places.

It is learnt that every year, the World Bank assesses 190 countries on various parameters to determine how easy it is for businesses to operate in these countries. The DBR ranks countries on the basis of Distance to Frontier (DTF), a score that shows the gap of an economy to the global best practices. This year, India's DTF score improved to 67.23 from 60.70 in the previous year.

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According to media reports the department of industrial policy and promotion (DIPP) said, "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 52 in 2018. In trading across borders, India's rank improved by 66 points moving from 146 in 2017 to 80 in 2018."

"The Doing Business assessment provides objective measures of business regulations and their enforcement across 190 economies on ten parameters affecting a business through its life cycle," a Finance Ministry release said.