The country's rank improved by 53 positions in last two years and by 65 positions in last four yearsIndia recorded a jump of 23 positions in the World Bank's annual ranking of ease of doing business, the government said in a statement on Wednesday.
India now ranks 77th in the annual list, as against100 last year.
The commerce ministry said that the improvement of 23 positions in the Ease of Doing Business ranking is significant.
It said that last year, the country had registered a jumpof 30 places, "a rare feat for any large and diverse country of the size of India".The country's rankimproved in six out of 10 indicators.
The government also said that the "most dramatic improvements have been registered in the indicators related to 'Construction Permits' and 'Trading across Borders'".Indicator20172018ChangeConstruction Permits18152129Trading Across Borders1468066Starting a Business15613719Getting Credit29227Getting Electricity29245Enforcing Contracts16416311007723India has improved its rank by 53 positions in last two years and by 65 positions in last four years, the government noted.The ministry further said that the improvement in the annual ranking was a result of continued efforts by the government."We have made progress in leaps and bounds, probably the most significant in the history of Ease of Doing Business," Finance Minister Arun Jaitley said.The World Bank recognised India as one of the top improvers for the second consecutive year.India is now placed at first position among South Asian countries as against 6th in 2014, according to the World Bank report.The World Bank pointed out eight indicators in which India improved its rank over last four years.Indicator20142018ChangeConstruction Permits18452+132Getting Electricity13724+113Trading across Borders12680+46Paying Taxes156121+35Resolving Insolvency137108+29Enforcing Contracts186163+23Starting a Business158137+21Getting Credit3622+14The World Bank's index of Ease of Doing Business provides objective measures of business regulations and their enforcement across 190 economies on ten parameters affecting a business through its life cycle, according to the statement.