Reportedly india Inc on October 24 cheered as the country jumped 14 places to the 63rd position on the World Bank's ease of doing business ranking, and said the performance was an indicator of the Narendra Modi-led government's reformist credentials. industry bodies exuded confidence that india will climb the rankings further to be among the top 50 nations on the World Bank's 'Doing Business' 2020 report, as envisioned by the Prime Minister.
CII Director General Chandrajit Banerjee said "The reform initiatives aimed at digitizing, streamlining and rationalizing regulatory compliance and procedures have imparted a huge fillip to the investor sentiment by ensuring faster processes, lower transaction costs and greater transparency".
Furthermore he said the extraordinary jump in the ranking is
an outcome of sustained and consistent multi-year business reforms, especially
in the indicators of starting a business, dealing with construction permits,
trading across borders and resolving insolvency, where the country has noted
remarkable improvement. india jumped 14 places to the 63rd position on the
World Bank's ease of doing business ranking released on October 24, riding high
on the government's flagship 'Make in India' scheme and other reforms
attracting foreign investment.