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India achieve top position in business friendly economy by world bank : Report

Based on the number of reforms which aid ease of doing business, India has been ranked as one of the top 20 improvers in Doing Business 2020 by the World Bank. The list includes 20 economies which have improved the most on ease of doing business score. As per the World Bank, economies are selected based on the number of reforms and on how much their ease of doing business score improved.

It may be noted that Ease of Doing Business 2020 detailed report will be published on October 24. India has been named in top 20 economies which have improved their ease of doing business score due to reforms. The ranking, however, does not reflect the performance of the economies. But they certainly indicate at the business-friendly atmosphere in the countries.

The World Bank in regard to India said, “India made it easier to do business in four areas measured by Doing Business. Authorities in Mumbai and New Delhi made it easier to obtain construction permits by allowing the submission of labor inspector commencement and completion notifications through a single-window clearance system. Starting a business is less costly thanks to abolished filing fees for the SPICe company incorporation form, electronic memorandum of association and articles of association.”


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