Our leaders share their views on India's rise in World Bank's Ease of Doing Business 2018 rankings.
Chairman, PwC India
We are delighted to hear the news about India’s improved performance in the World Bank’s ranking of countries in terms of doing business. A jump of 30 spots is a clear testimony of the government’s relentless focus on growth and reforms. Across an array of sectors and disciplines, there has been a sustained effort to improve matters, both at the policy-level and on-ground. Any major reform always has the potential to create temporary pain and inconveniences but the government’s resolve to not lose focus on long-term gains is worthy of appreciation. We are confident that the government's resolve on enacting further reforms will only get more thrust due to the much-deserved validation from the World Bank.
Partner and Leader, Tax and Regulatory Services
It’s heartening to see the substantial progress India has made in the World Bank’s assessment of countries in the Ease of Doing Business survey, with the ranking moving up from 130 to 100, with this being an external recognition of the government's relentless efforts in making the country an easier place to do business. While there is additional ground to be covered, this is a good moment to pause and reflect on the steps that have been effectively implemented to get to this outcome, and to try and replicate this approach in other areas as well to continue this momentum. Additionally, relative to other countries, the report does mention that India is the only large country this year to have achieved such a significant shift.
Manish B Agarwal
Partner and Leader, Infrastructure,
The change in ranking reflects the outcome of a significant effort by central, state and city governments. The improved investment climate will give an impetus to several economic corridors that are ready for investors. Process improvements at some ports have significantly reduced time with measures like direct port delivery, additional land area for containers, and reduced documentation requirements. Going forward, the World Bank methodology could include a larger sample, to capture the significant improvements being made by several states.