Will leapfrog 30 places in World Bank assessment of 190 nations
India will leapfrog 30 places to the 100th position out of 190 countries in the World Bank's Doing Business Report, high-level sources have confirmed to The Hindu .
According to a source involved in the exercise - the report is expected to be released on October 31 - “India will hit a century.”
This huge jump in the country's ranking is thanks to reforms in areas such as ‘starting a business’, ‘dealing with construction permits’, and ‘resolving insolvency’, where it was placed a lowly 155, 185 and 136 respectively last year.
The source said, “The low rank last year galvanised India to act. There was an explicit order from the Prime Minister (Narendra Modi) to ensure faster reforms to improve India’s rankings.” India was ranked a poor 130 overall last year, up by just one place from the 131 rank in the previous year.
Future prospects
On the future prospects for India, the source said, “If India maintains this momentum, it can jump to a rank in double digits next year,” adding that Mumbai and Delhi - the two cities covered in the Report - had responded well to the government’s call for improvement. The Department of Industrial Policy and Promotion systematically worked with the line ministries and State governments to “get things done on the ground”, the source said.
India will leapfrog 30 places to the 100th position out of 190 countries in the World Bank's Doing Business Report, high-level sources have confirmed to The Hindu .
According to a source involved in the exercise - the report is expected to be released on October 31 - “India will hit a century.”
This huge jump in the country's ranking is thanks to reforms in areas such as ‘starting a business’, ‘dealing with construction permits’, and ‘resolving insolvency’, where it was placed a lowly 155, 185 and 136 respectively last year.
The source said, “The low rank last year galvanised India to act. There was an explicit order from the Prime Minister (Narendra Modi) to ensure faster reforms to improve India’s rankings.” India was ranked a poor 130 overall last year, up by just one place from the 131 rank in the previous year.
Future prospects
On the future prospects for India, the source said, “If India maintains this momentum, it can jump to a rank in double digits next year,” adding that Mumbai and Delhi - the two cities covered in the Report - had responded well to the government’s call for improvement. The Department of Industrial Policy and Promotion systematically worked with the line ministries and State governments to “get things done on the ground”, the source said.