India’s rank rises to 100 in World Bank’s doing Business Report

     New Delhi. The World Bank, today released the Doing Business (DB) Report, 2018. The Department of Industrial Policy and Promotion (DIPP) is pleased to announce that India ranks 100 among 190 countries assessed by the Doing Business Team. 

 India has leapt 30 ranks over its rank of 130 in the Doing Business Report 2017.The DB Report is an assessment of 190 economies and covers 10 indicators which span the lifecycle of a business. The table below provides a comparison of this year’s and last year’s report.

  India has improved its rank in 6 out of 10 indicators and has moved closer to international best practices (Distance to Frontier score). The credit for this significant improvement is credited to the mantra of “Reform, Perform, Transform” given by the Prime Minister, wherein a strong leadership has provided the political will to carry out comprehensive and complex reforms, supported by a bureaucracy committed to perform.

  The Government has undertaken an extensive exercise of stakeholder consultations, identification of user needs, government process re-engineering to match Government rules and procedures with user expectations and streamlined them to create a more conducive business environment. An extensive exercise is also undertaken to increase awareness among users about reforms to ensure extensive use of newly created systems. 

   This edition of the report acknowledges India as a top improver, with an improvement of 30 ranks compared to last year’s report, the highest jump in rank of any country in the DB Report, 2018. India is the only country in South Asia and BRICS economies to feature among most improved economies of the DB Report this year. Major achievements in the World Bank in the Doing Business Report.

     The important highlights of India’s performance are- Resolving Insolvency, Rank improved from 136 to 103, Distance to Frontier (DTF) score improved from 32.75 to 40.75, Strength of insolvency framework index increased from 6 to 8.5, Insolvency & Bankruptcy Code created for efficient handling of restructuring & insolvency proceedings, Professional institutes set up for handling restructuring & insolvency proceedings, Paying Taxes - Rank improved from 172 to 119, DTF score improved from 46.58 to 66.06, Payments reduced from 25 to 13 in a year, Time reduced from 241 to 214 hours, Total tax rate reduced from 60.6% to 55.3% (% of profit), Post filing index improved from 4.3 to 49.31, Enabled electronic registration, return & payment of ESI & EPF contributions.