India jumps 23 notches to 77th rank on World Bank’s ‘ease of doing biz’

WASHINGTON/NEW DELHI: India has jumped 23 places to the 77th position in the World Bank’s ‘ease of doing business’ ranking released on Wednesday, a development that could help the country attract more foreign investments.

India was ranked 100th in the World Bank’s Doing Business Report last year.

The ranking comes as a shot in the arm for the Narendra Modi Government which faces strong dissenting voices from opposition parties ahead of the general elections next year.

In its annual report ‘Doing Business’ 2019 report, World Bank said India improved on six of the 10 parameters relating to starting and doing business in a country.

These parameters include ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency.

India was ranked at the 142nd position among 190 nations when the Modi Government came to power in 2014. It rose to 100th spot in the last ranking from the 131st rank in the previous year. (AGENCIES)