India jumped 23 ranks in the World Bank’s Ease of Doing Business Index 2018 to 77. In the 2017 report, the country was ranked 100.
The Index ranks 190 countries based on 10 indicators across the life-cycle of a business, from “starting a business” to “resolving insolvency.”
“India’s strong reform agenda to improve the business climate for small and medium enterprises is bearing fruit. It is also reflected in the government’s strong commitment to broaden the business reforms agenda at the State and now even at the district level,” Junaid Ahmad, World Bank country director in India, said in a press release.
“The improvement is excellent news for India, and good news for the business community,” Commerce Minister Suresh Prabhu said on Wednesday. “I’m sure we will continue to improve it more and more.” Mr. Prabhu said several government initiatives were in the works.