"Boosted by substantive jumps in the areas of protecting minority investors through tightening of securities regulations, improvement in rules related to businesses paying taxes and access to getting credit and resolving insolvency, India surged up 30 places to the 100th rank among 190 countries in the latest edition of the World Bank’s global rankings on Ease of Doing Business.
According to the Bank’s Ease of Doing Business 2018 report, India figures among the top 10 countries that have marked an improvement this year moving up in rankings of six out of 10 “Doing Business”
According to the Bank’s Ease of Doing Business 2018 report, India figures among the top 10 countries that have marked an improvement this year moving up in rankings of six out of 10 “Doing Business” indicators.
Last year, India gained one slot in the World Bank’s rankings, from 131 to 130. While acknowledging the “substantial progress” in rankings, the report shows that India still lags in areas such as starting a business (156), enforcement of contracts (164), dealing with construction permits (181) and registering property (154).
The World Bank report said the improvement in ranking for India has come on the back of “sustained business reforms” over the last four years.
| Topics | DB 2018 Rank | DB 2018 DTF | DB 2017 DTFinfo_outline | Change in DTF (% points) | |
|---|---|---|---|---|---|
| Overall | 100 | 60.76 | 56.05 | 4.71 | |
Starting a Business | 156 | 75.40 | 73.69 | 1.71 | |
| Dealing with Construction Permits | 181 | 38.80 | 36.17 | 2.63 | |
| Getting Electricity | 29 | 85.21 | 85.17 | 0.04 | |
| Registering Property | 154 | 47.08 | 46.83 | 0.25 | |
| Getting Credit | 29 | 75.00 | 65.00 | 10.00 | |
| Protecting Minority Investors | 4 | 80.00 | 76.67 | 3.33 | |
| Paying Taxes | 119 | 66.06 | 47.67 | 18.39 | |
| Trading across Borders | 146 | 58.56 | 57.61 | 0.95 | |
| Enforcing Contracts | 164 | 40.76 | 38.90 | 1.86 | |
| 103 | 40.75 | 32.75 | 8.00 | |
For details go to : http://www.doingbusiness.org/data/exploreeconomies/india
What is very noticeable is that, what helped the ranking up move is the new bill of resolving insolvency. Or the Insolvency Bill;
here is a look what is insolvency bill
The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy. The Insolvency and Bankruptcy Code, 2015 was introduced in Lok Sabha in December 2015. It was passed by Lok Sabha on 5 May 2016.
It actually means closure of business is made easy by the government, which made it jump 8 points in index.
Starting a Business: This topic measures the paid-in minimum capital requirement, number of procedures, time and cost for a small- to sized limited liability company to start up and formally operate in economy’s largest business city.To make the data comparable across 190 economies, Doing Business uses a standardised business that is 100% domestically owned, has start-up capital equivalent to 10 times income per capita, engages in general industrial or commercial activities and employs between 10 and 50 people one month after the commencement of operations, all of whom are domestic nationals. Starting a Business considers two types of local limited liability companies that are identical in all aspects, except that one company is owned by 5 married women and the other by 5 married men. The distance to frontier score for each indicator is the average of the scores obtained for each of the component indicators.
Download here the Ease Of Doing Business 2018 document without an edit. The report is the property of http://www.doingbusiness.org/data/exploreeconomies/india#resolving-insolvency
