India jumped 30 spots in Ease of Doing Business rankings list in 2018 to secure a place in top 100 countries in the ranking by World Bank. There ranking was prepared among 190 countries. This is for the first time that any country has shown such a great improvement in the Ease of Doing Business rankings. Some of the major factors behind India’s improvement in ranking are:
- Resolving insolvency
- Paying taxes
- Protecting minority investors
- Getting credit
Annette Dixon, Vice President, South Asia region said in his statement that India’s remarkable improvements are due to country’s continuous efforts in the last past few years and India’s endeavour to strengthen its position as a favourable place to do business.
With this achievement Finance Minsiter Arun Jaitley expected that India’s target of being at top 50 is very much achievable. PM Modi called it as a historic jump which was made possible because of all-round and multi-sectoral reform push.