November 1, 2017

GST to have big impact on ease of business ranking next year

India has jumped 30 places in the ‘Ease of Doing Business’ ranking. What does this mean for India? 

This sends a huge message to the investor community. It is a real breakthrough in terms of ease of doing business in India. Insolvency and Bankruptcy code was always a major concern for investors, both international and domestic, where we have improved. When some cases get resolved, the full impact of the Code will be felt in next year’s rankings.

World Bank has recognised improvement in the time taken and costs for trading across borders, though rank has not improved. About 122 reforms have not been recognised this year but we will engage with the World Bank next year. The message is very clear – that India is not only serious about the ease of doing business reforms but the results are also showing.

Recognition by the World Bank is the ultimate assurance for the investor. 

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