Over the last five years India’s ranking on the world Bank’s Ease of Doing Business (EODB) index has remarkably improved from 142 in 2015, to 131 in 2016, to 130 in 2017, to 100 in 2018, to 77 in 2019 and to 63 in 2020. In terms of gains, India climbed up the ladder by 14 steps over the last year; however, it fell short of the aim of achieving 50th rank on the index by 13 ranks. India needs aggressive reforms in select areas over the next one year to figure among the top 50 countries as aimed by PM Modi.
The World Bank EODB index compares the business environment of 190 different economies; and its rankings impact the reputation of the countries while providing guidance to the governments on policy reforms in areas of doing business. The improvement in overall ranking of India is impressive; however, the individual ranking of each factor points to the ground reality of ease of business at which the investor looks at while making investment decision. Therefore, it become imperative for India that progress is made in each factor to be able to project itself as one of the best investment destinations.
The following Table summarizes India’s performance in ten parameters assessed by the World Bank on the Ease of Doing Business Index
Source: World Bank EODB Report, 2020