India’s Ease of Doing Business (EODB) ranking slingshot to 131 last year from 142 in 2014, thanks to the immediate reforms kicked in by the Modi government, after coming into power. However, as the dust of the economic euphoria settled down, despite a barrage of new initiatives pressed into action over last 12 months, it has failed to translate the impact onto the rankings this year.
This sounds even more disappointing if one looks at India’s ranking five years back, which was 132 in 2011. This year it stood at a baffling 130. The country has failed to make any significant headway in easing out the business climate despite the clamor we hear on the ground. The sentiment was echoed when commerce and industry minister, Nirmala Seetharaman, tweeted out her dissatisfaction. “Disappointed at our rank this year. Many of our reformatory steps were after WB (World Bank) deadline. Hopefully, with other steps, will help next year.”
The government is hopeful of a marked improvement next year, with the impact being visible on the ground over the next 12-month period. “We are working hard on all the reforms. It depends so much on methodologies, and also how other countries are performing. We are working very hard and will continue to do so,” says Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion (DIPP).
This story is from the December 2016 edition of Entrepreneur magazine.
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This story is from the December 2016 edition of Entrepreneur magazine.
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