India up in `Ease of doing business` |
India now ranks 130 out of 189 countries in the ease of doing business, moving up 12 places from last year, according to a World Bank report. Singapore remains the easiest place to do business, while developing countries stepped up their pace of business-friendly reforms in the past year. There were barely any changes in the report`s top 10. For any big economy, a rank improvement of 12 is a remarkable achievement. Going from 142 in the world to 130, as India has done, is very good sign. It gives a good signal about the way things are moving in India. China is ranked 84 and Pakistan is at 138th place. Pakistan in fact has slipped 10 spots from 128 last year while China has moved six spots in a year from 90 since the lastreport.The World Bank said India, which has a global ranking of 130, implemented two reforms during the past year.For example, in starting a business, India eliminated the requirements for a paid-in minimum capital and a certificate to commence business operations, significantly streamlining the process for starting a business."What is significant about India is that they are in the middle of what appears to be a very, very ambitious process of reforms affecting a broad range of areas captured by the Doing Business indicators, according to Lopez Claros, Director of the Global Indicators Group World Bank.
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