Having ranked 130 in the World Bank’s ‘Ease of Doing Business’ index among the 189 countries, India soon set about refining the country’s business environment and opinion among foreign investors by providing detailed evidence to the global lender on the ease of doing business as it seeks to break into the first 100 countries on the bank’s index from its present position.
Officials say the logs of construction permits, containerized cargo movement at ports and formation of a company are being presented to the World Bank as a part of Modi government’s efforts to guarantee they don’t lose out on any point to score India’s rank.
World Bank officials had a few questions for the Department of Industrial Policy & Promotion (DIPP) when they met on August 1 after finishing field inspection and authentication of claims over the 14 factors on ease of doing business.
While the World Bank does not share its conclusions, one observation made by its team was that the people were carrying the paperwork to the offices of Employees’ Provident Fund Organization even when the registration was made free of all physical touchpoints. A senior DIPP official who refused to be identified said that they clarified that it was only for the demands that one needs to file papers.
DIPP is taking an ardent approach to provide proof on its part even after the field investigations have been conclude by the World Bank team. Ultimate rankings will be announced in October. The ranking studies business environment in Delhi and Mumbai. India compares critically even with countries such as Mexico, which is graded 38, and Russia, which is at 51. Prime Minister Modi has set an objective for India to be in the top 50 in three years.
India seeks to reach amongst the top 100 in World Bank’s ‘Ease of Doing Business’ Index
