Indian Prime Minister Narendra Modi has left no stone upturned in an effort to make India a business friendly country. However, the news that India moves up only one place on ease of doing business rankings is really shocking.
India moved up only one position in the International Finance Corporation’s (IFC) ease of doing business rankings. The news has triggered a strong reaction from Modi government which said the string of reform initiatives undertaken by the Indian government in the last one year had not been factored in by the World Bank.
The Doing Business 2017 report that was released on 25 October showed that India was placed 130th among 190 countries that had been surveyed for the annual rankings, with Russia, Bhutan, South Africa, China, Nepal, Sri Lanka and Brazil ranked higher.
Improving India’s ranking in the ease of doing business survey is considered a key priority by Narendra Modi government. The government is keen to improve attractiveness as an investment destination and has undertaken several measures to make it easier to do business in India.