World Bank releases Doing Business Report 2018: India ranks 100 among 190 countries
The World Bank on 31 October 2017 released the Doing Business (DB) Report 2018 titled as 'Doing Business 2018: Reforming to Create Jobs'. As per the report, India ranked 100 among 190 countries, assessed by the Doing Business Team.
The Doing Business Report assesses 190 economies and covers 10 indicators which span the lifecycle of a business.
India's Improved Rank in Doing Business Report
• India jumped over 30 ranks this year to attain 100th spot in the ease of doing business list. It was ranked at 130th position in the 2017 Doing Business Report.
• India is the only country in South Asia and BRICS economies to feature among most improved economies of the DB Report this year.
• It saw the improvement in 6 out of 10 indicators. These six indicators are Resolving Insolvency, Paying Taxes, Getting Credit, Enforcing Contracts, Protecting Minority Investors and Construction Permits.
• India ranked 103rd in Resolving Insolvency indicator, 119th in Paying Taxes, 29th in Getting Credit, 164th in Enforcing Contracts, 4th in Protecting Minority Investors and 181st in Construction Permits.
Highlights of the Doing Business Report 2018
• Between June 2016 and June 2017, the report documented 264 business reforms.
• The most common reforms were in the areas of reducing the complexity and cost of regulatory processes in a start-up, getting credit and trading across borders.
• Brunei Darussalam, Thailand, Malawi, Kosovo, India, Uzbekistan, Zambia, Nigeria, Djibouti and El Salvador were the most improved economies in 2016/17.
• These 10 top improvers implemented 53 regulatory reforms making it easier for them to do business.
• Europe and Central Asia continue to be the regions with the highest share of economies implementing at least one reform as 76 per cent of economies in the region implemented at least one business regulatory reform.
• In the South Asia region, India was the top improver, however it ranked below Bhutan, which was ranked at 75. Besides, Nepal was ranked at 105, Sri Lanka at 111, Maldives at 136, Pakistan at 147, Bangladesh at 177 and Afghanistan at 183.
• Countries in Sub-Saharan Africa region fetched better ranks this year. Rwanda got 41st rank, Kenya was ranked at 80, Botswana at 81 and Zambia at 85.