India leapfrogged to the 77th rank in the World Bank's latest Ease of Doing Business rankings, jumping 23 notches from last year
Prime Minister Narendra Modi will chair a meeting with policy makers and top industrialists on November 19, to brainstorm on measures required to realise the vision of India breaking into the top 50 in the World Bank's Ease of Doing Business index.
The meeting 'Reflections on Ease of Doing Business' is being organised by the Department of Industrial Policy and Promotion (DIPP) as the government gears up for India's ranking to leapfrog on the 'Doing Business' index next year and boost the country's investment attractiveness.
Industrialists such as Anand Mahindra and top representatives from industry chambers, among others, will share their inputs.
Senior government officials from the team that worked on reforms to improve the ease of doing business parameters taken into account by the World Bank are also expected to participate in the meeting.
India leapfrogged to the 77th rank in the World Bank's latest Ease of Doing Business rankings, jumping 23 notches from last year.
The report, which came out last month, also recognised India as one of the top 10 improvers in this year’s assessment, for the second successive time. India is the only large country this year to have achieved such a significant shift.
India has improved its rank by 53 positions in the last two years, and 65 positions in the last four years (2014-18).
Speaking at Moneycontrol's Wealth Creator Awards, Suresh Prabhu, Minister of Commerce & Industry, and Civil Aviation said the overall mission of the government, led by Prime Minister Narendra Modi, is public good.
Placing his trust in the central leadership, the Union minister said he is confident that India will come in the first 50 ranks in the next fiscal.
Prabhu also announced that the government is creating 'sub-national' Ease of Doing Business parameters which will be measured at the district level because that is where the local industries are flourishing. "It is going to be bottom-up approach," he said.
