Registering an improvement of 23 spots, India stood at 77th rank in Ease of Doing Business 2019.
According to the World Bank report, India is ranked amongst the top 10 improvers in this year’s assessment, for the second successive time.
It further revealed that India is the only large country this year to have accomplished such a significant shift.
The growth reported this year is vital for the country, as it comes after the corresponding year’s 30 rank improvement which moved India into the top 100 rankings among 190 countries.
In the last two years, the country has improved its rank by 53 positions and escalated by 65 positions in the last four years (2014-18).
It is among the top 10 countries on Protecting Minority Investors (Rank 7).
“India continued its reform agenda, implementing six reforms in the past year. India is now the region’s top-ranked economy,” the World Bank said, ahead of Bhutan (81) and Sri Lanka (100), Nepal (110), the Maldives (139), Pakistan (136) and Afghanistan (167) and Bangladesh (176),” said the report.
As far as international best practices are concerned, India has improved its rank in six out of the 10 indicators and has gone closer to international best practices on seven out of 10 indicators.