India has moved a notch up in the World Bank’s ‘ease of doing business’ ranking, reflecting the country’s progress in just two out of 10 parametres considered in the annual survey to measure the actual costs of doing business in 185 countries.
According to the international financial institution’s Doing Business Report (DBR), India has moved to 130th rank from the 131st position it held last year.
New Zealand topped the Doing Business Rankings this year, displacing Singapore which fell to second place.
Apart from India and China, all the BRICS nations exhibited dismal performances as Brazil fell to 123rd rank from 121st last year, Russia fell to 40th from 36th and South Africa slipped two places to 74th from 72nd in 2016. China marginally improved from 80th in 2016 to 78th.
The Doing Business Report, launched in 2003, carries out a quantitative assessment of each country’s regulations for starting a business, dealing with construction permits, employment of workers, registering property, access to credit, protecting investors, paying taxes, trading across borders, enforcing contracts, securing an electricity connection, and closing a business.
Based on their scores in each parametre, the report ranks the countries relative to each other’s performance.