After India jumped 14 positions to be ranked 63rd in the World Bank’s ease of doing business, Union Minister Piyush Goyal on Thursday congratulated Prime Minister Narendra Modi for the “path breaking improvements” in the country’s business environment.
“India has jumped from 77th to 63rd rank in the Ease of Doing Business Rankings released just now by the World Bank. Congratulations to PM @NarendraModi ji for the path breaking improvements in India’s business environment for nation’s prosperity and job creation,” he tweeted.
India has remarkably improved in ease of doing business, reported World Bank in its ease of doing business 2020 survey. The country is placed in 63rd position among 190 countries.
According to the report issued by World Bank on Thursday, India appeared among the top 10 improvers for the third time in a row. The Bank lauded New Delhi for a “remarkable reform effort”.
“In economies on the list of 10 top improvers, leaders of India and China adopted the Doing Business indicators as a core component of their reform strategies,” said the World Bank.
It also praised Modi’s ‘Make in India’ campaign which focused on attracting foreign investment, boosting the private sector, manufacturing in particular, and enhancing the country’s overall competitiveness.
In India, the report said, the importing and exporting also became easier for companies with the creation of a single electronic platform for trade stakeholders, upgrades to port infrastructure and improvements to electronic submission of documents.
Last year, India was ranked 77th. In six years of the Modi government, India’s ranking improved 79 places from 142nd in 2014 to 63th in 2019, a record for a major economy.