Ease of Doing Business rankings: As India jumps into top 100 club, US calls it big achievement

By: | Updated: November 3, 2017 10:24 PM

Speaking in Delhi today, USDA Under Secretary for Trade & Foreign Agricultural Affairs on India said, "Enormous job to move from 130 to 100."

Ease of doing business, Ease of Doing Business rankings, India, US, World Bank, Narendra Modi, Donald Trump, USDA, Secretary for Trade & Foreign Agricultural Affairs(Photo: Reuters)

India Ease of Doing Business rankings: With India making a huge 30 spot jump in Ease of Doing Business World Bank ranking due to a number of reforms undertaken by the Prime Minister Narendra Modi led NDA government at the Centre, some high praise has come in from the US President Donald Trump administration. Speaking in Delhi today, USDA Under Secretary for Trade & Foreign Agricultural Affairs on India said, “Enormous job to move from 130 to 100.” He added, “Big achievement.” While talking about the Ranking, Niti Aayog CEO Amitabh Kant expressed hope that India would be among the top 50 nations in the global ease of doing business ranking within two years due to the reforms being carried out by the Modi government, according to PTI.

In an interview with the CNN News 18, “In the next two year’s time India will definitely be in top 50 and in three years we should really target India to be in top 20 and this is doable because of the reforms that have been carried out since three years,” as quoted in the report.

Earlier in the day, Prime Minister Narendra Modi said that starting business in India is easier than ever before as procedures have been simplified, archaic laws repealed and compliance requirements reduced. At the World Food India 2017 conference, Modi said, “This is the highest ever improvement for India, and the highest jump for any country this year. From a rank of 142 in 2014, we have now reached the top 100.” India, he said, ranked number one in the world in 2016 in greenfield investment and has also rapidly progressed on the Global Innovation Index, the Global Logistics Index and the Global Competitiveness Index.

“Starting a new business in India is now easier than ever before. Procedures for obtaining clearances from various agencies have been simplified. Archaic laws have been repealed, and the burden of compliances has been reduced,” he said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition