India figured among the top 10 performers on the list for the third time in a row. Significant improvements have been registered in ‘Resolving Insolvency’, ‘Dealing with Construction Permits’, ‘Registering Property’, ‘Trading across Boards’ and ‘Paying Taxes’ indicators.
The ranking comes at a time when the Reserve Bank of India, the World Bank, the IMF and various rating agencies have slashed the country’s growth forecasts amid a slowdown in the global economy.
India was ranked 142nd among 190 nations when Prime Minister Narendra Modi took office in 2014. Four years of reform pushed up India’s rank to 100th in ‘Doing Business’ 2018 report.
Union Minister of Railways and Commerce Piyush Goyal in a tweet congralutaled Prime Minister Narendra Modi for the path breaking improvements in India’s business environment for nation’s prosperity and job creation.
Union Information & Broadcasting Minister Prakash Javadekar said that India is becoming favorite destination for FDI investments and other investments because of the conscious policy decisions by the Modi govt.