5 HIGHLIGHTS FROM WORLD BANK'S DOING BUSINESS 2O19 REPORT
1IMPROVEMENT OVER THE LAST TWO YEARS
In the latest iteration of World Bank’s Doing Business 2019 Report, India once again made significant strides, a jump of 23 places to reach Rank 77 out of 190 economies. This jump is even more significant given India’s 30 place jump last year, which had bought it to Rank 100. This is a rare feat for any large country. India is now the best ranked from the South Asian region.
2SIGNIFICANT JUMPS OVER THE LAST 4 YEARS
World Bank once again recognized India as one of the top 10 improvers in this year’s assessment, for the second year in a row. India has improved by 53 positions in the last two years, and 65 positions in the last four years. India is the first South Asian and BRICS nation to have achieved this.
3KEY INDICATORS WHERE INDIA IMPROVED ITS RANK THIS YEAR
India improved it’s rank in 6 of the 10 indicators measured by World Bank. The 2 most significant improvements were those in the indicators for Construction Permits (Jump of 129 spots to rank 52), and for Trading Across Borders (Jump of 80 spots to rank 66). The indicators where India gained ground are Starting a Business, Getting Credit, Getting Electricity and Enforcing Contracts
4IMPROVEMENT IN TRADING ACROSS BORDERS & IMPROVEMENT IN DEALING WITH CONSTRUCTION PERMITS
India streamlined the process of obtaining a building permit and made it faster and less expensive to obtain a construction permit. India also reduced the time and cost to export and import through various initiatives, including the implementation of electronic sealing of containers, the upgrading of port infrastructure and allowing electronic submission of supporting documents with digital signatures
5IMPROVEMENT IN DISTANCE TO FRONTIER SCORE OVER THE YEARS
The continued relentless drive by the Government to push hard regulations and reforms in order to improve the business climate of the country is validated by India’s consistent improvement over the last few years. India’s Distance to Frontier (DTF) score, a measure to how close a country is to global best practices, has been improving consistently since the last few years