“Ease of doing business,” India jumps 14 places to the 63rd position: World Bank

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Delhi: India jumped 14 places to the 63rd position on the World Bank’s ease of doing business ranking released on Thursday, riding high on the government’s flagship ”Make in India” scheme and other reforms attracting foreign investment. The country also figured among the top 10 performers on the list for the third time in a row. India was ranked 142nd among 190 nations when Prime Minister Narendra Modi took office in 2014. Four years of reform pushed up India’s rank to 100th in World Bank’s ”Doing Business” 2018 report. It was 130th in 2017 when it was ranked lower than Iran and Uganda. Last year, the country jumped 23 places to the 77th position on the back of reforms related to insolvency, taxation and other areas. In its ”Doing Business” 2020 report, the World Bank commended the reform efforts undertaken by the country “given the size of India’s economy”.