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India 77th in Ease of Doing Business Index

These would further ease doing business, such as enabling export and import using only a mobile phone, Mr. Prabhu said.

“The government will get out of business and allow people to conduct their business,” the Commerce Minister added.

Finance Minister Arun Jaitley pointed out that since the World Bank sets May 1 as the deadline for measurement, there are several initiatives taken by the government that will only reflect in next year’s rankings including the effects of the Insolvency and Bankruptcy Code and the full effect of the Goods and Services Tax.

He said that despite the sharp improvement India has made in several categories in the Index, there were others such as registering a property, starting a business, taxation, insolvency, and enforcing a contract where a lot of work still needs to be done.

“During the past year, India made Starting a Business easier by fully integrating multiple application forms into a general incorporation form,” the World Bank said in a release. “India also replaced the value added tax with the Goods and Services Tax (GST) for which the registration process is faster in both Delhi and Mumbai, the two cities measured by the Doing Business report. In addition, Mumbai abolished the practice of site inspections for registering companies under the Shops and Establishments Act. As a result, the time to start a business has been halved to 16 days, from 30 days.”

India moved from rank 184 in 2014 to 52 in 2018 in the construction permits category, 137 to 24 in getting electricity, 126 to 80 in trading across borders, 156 to 121 in paying taxes, 137 to 108 in resolving Insolvency, 186 to 163 in enforcing contracts, 158 to 137 in starting a business, and 36 to 22 in getting credit.