A number of policy reforms has helped India significantly improve its business climate, an annual World Bank index showed on Tuesday, burnishing Prime Minister Narendra Modi’s reformist credentials that could help him win big-ticket investments.
For the first time, India jumped a record 30 places to 100 in the Ease of Doing Business report for 2018, which is an influential 190 country barometer of competitiveness that many businesses likely consider for investment decisions.
India’s impressive performance also signals a possible turnaround in the country’s economic narrative after months of sluggish growth, helped largely by reforms in taxation, insolvency laws and access to credit that Prime Minister Modi pushed to boost investment and jobs.
“Evaluation for the ease of doing business ranking is very tough. The ranking does not reflect the reform measures unless the outcome is visible on the ground,” finance minister Arun Jaitley told journalists.
“This report takes into account only Delhi and Mumbai. To get a true picture of doing business in India, manufacturing hubs such as Tamil Nadu and Gujarat should have been looked at,” said former Indian chief statistician Pronab Sen.
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Source : http://paper.hindustantimes.com