What was India’s rank in the Ease of Doing Business Index 2020?
63
Understanding India's Rank in Ease of Doing Business 2020
The Ease of Doing Business Index is a significant indicator that measures how easy or difficult it is for local entrepreneurs to start and run their businesses when complying with relevant regulations.
The index is published annually by the World Bank. It ranks countries based on their performance across various parameters such as starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
India's Performance in Ease of Doing Business 2020
In the Ease of Doing Business Index 2020, India achieved a significant improvement in its ranking. The reforms implemented by the government across different areas contributing to the business environment led to this positive movement.
India's rank in the Ease of Doing Business Index 2020 was 63.
This represented a jump from its previous rank, indicating improvements in several indicators measured by the index.
Key Facts about India's Rank (2020)
- Index Publisher: World Bank
- India's Rank in 2020: 63
- Total economies ranked: 190
Comparing with the previous year provides context:
| Year | India's Rank |
|---|---|
| Ease of Doing Business 2019 | 77 |
| Ease of Doing Business 2020 | 63 |
This improvement of 14 positions from 77 to 63 in the Ease of Doing Business Index 2020 highlights the impact of continuous government efforts towards creating a more favorable business climate in India.
Revision Table: Ease of Doing Business Index
| Aspect | Details |
|---|---|
| What is it? | Measures ease of doing business based on regulations |
| Publisher | World Bank |
| India's 2020 Rank | 63 |
| India's 2019 Rank | 77 |
Additional Information: Ease of Doing Business Reforms in India
India has focused on reforms across various parameters to improve its rank in the Ease of Doing Business Index. Some key areas of reform include:
- Starting a Business: Simplifying the process and reducing the time required.
- Construction Permits: Making it easier and faster to obtain permits.
- Trading Across Borders: Reducing documentation and time for imports and exports.
- Resolving Insolvency: Strengthening the insolvency and bankruptcy framework.
- Getting Electricity: Streamlining connections for businesses.
These reforms contribute to creating a more predictable, transparent, and efficient regulatory environment for businesses operating in India.
Important Questions from Indexes and Reports
Which of the following nations was India’s top trading partner in the financial year 2019-20?
Which of the following banks features in the Fortune Global 500 list 2021?
Which among the following is NOT a human capital?
Which of the following countries is the second largest cotton producer in the world as of October 2020?
According to the Public Affairs Index 2020, which among the following has been adjudged the best governed union territory in the category of UTs?
