Economic Reforms Gains Credit as India Improves its Global Ranking

New Delhi: India’s flagship programme ‘Make in India’ and other economic reforms have been credited to have improved the country’s global ranking in the ‘Ease of Doing Business’ index of the World Bank to 63rd position.

Accordingly, the annual index report – Doing Business 2020 – released by the World Bank showed India as being amongst the top 10 improvers, stating that “Given the size of India’s economy, these reform efforts are particularly commendable”.

The report released on Thursday said: “Prime Minister Narendra Modi’s ‘Make in India’ campaign focused on attracting foreign investment, boosting the private sector – manufacturing in particular – and enhancing the country’s overall competitiveness.”

“The government turned to the Doing Business indicators to show investors India’s commitment to reform and to demonstrate tangible progress. In 2015, the government’s goal was to join the 50 top economies on the ease of doing business ranking by 2020.”

As per the report, the administration’s reform efforts targeted “all of the areas measured by Doing Business, with a focus on paying taxes, trading across borders, and resolving insolvency”.

“The country has made a substantial leap upward, raising its ease of doing business ranking from 130 in 2016 to 63 in Doing Business 2020.”

Last year, India jumped 23 places to the 77th position on the back of reforms related to insolvency, taxation and other areas. (IANS)

Also Read: Why doesn’t the Congress mention economic reforms?

Also Watch:Fake pro-talk ULFA member apprehended in Digboi