The Union Minister of Information and Broadcasting, Prakash Javadekar, on Thursday, October 24, noted India has jumped higher in the rankings of ‘Ease of Doing Business’. He also reiterated that India is becoming an attractive destination for investment. Speaking about ease of doing business and ease of living he also said that the government under the leadership of PM Modi will continue providing breeding ground to the upcoming businesses so that they can flourish in the country.
Highlighting India’s jump in ease of doing business ranking, Union Minister Prakash Javadekar said, “India is becoming a very hot destination for FDI investments and other investors because of the conscious policy decisions and practices that are adopted by the Modi government. These decisions are providing ease of doing business and ease of living; therefore, people are preferring India over other countries. We were 142nd in the ease of doing business rankings in 2014, last year we were at 77, which was a long jump to that end in just four years. However, this year we have again jumped 14 steps further and become 63rd country in ease of doing business. Our march towards providing ease of doing business and ease of living will continue under the leadership of our Prime Minister Narendra Modiji”.
The relentless effort of PM @narendramodi push for Ease of Doing Business in #India has resulted in a big positive impact. India has jumped from 77th to 63rd rank in Ease of Doing Business as per the report released by World Bank today. Congratulations @narendramodi ji. pic.twitter.com/Ca3oH5M8mL— Prakash Javadekar (@PrakashJavdekar) October 24, 2019
According to the report released by The World Bank on the Ease of Doing Business, “the economies with the most notable improvement in Doing Business 2020 are Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria. In 2018/19, these countries implemented one-fifth of all the reforms recorded worldwide”. While calculating the ranking, these economies are ranked on their ease of doing business, from 1–190. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. The rankings are determined by sorting the aggregate scores on 10 topics, each consisting of several indicators, giving equal weight to each topic.