Make in India, In a recent report released today by the World Bank, which ranked 189 countries on the subject of ease of doing business, India was on the 142nd position, two places below the position it was, on the previous report.
In a recent report released today by the World Bank, which ranked 189 countries on the subject of “ease of doing business”, India was listed on the 142nd position, two places below the position it was, on the previous report.
The fall in the ranking from last year, is more because other nations performed much better.
In the previous report released in May 2014, India had 52.78 points, whereas in the latest report it had 53.97 points. The ranking, however, does not take into account the latest measures taken by the Central government to make India a destination for business investments.
Promoting the #MakeInIndia initiative in an attempt to encourage companies to start-up in India, the government is working on cutting down the registration period for a business from 25 days to one day. Appreciating the steps taken by the new government the World Bank officials, however, affirmed that it is highly likely that India could jump the ladder by a good amount, in ease of doing businesses.
Singapore topped the list with 88.27 points, followed by New Zealand, Hong Kong, Denmark, and South Korea.
Though a raft of measures have been taken to promote the Make In India initiative, and other things required to start a business, there’s a lot we can do on a personal level to help the country rise on the list.
The world economy is rising every single hour, and is affecting our economy is every way. We need to make sure that we improve faster and in a better way as compared to others. Make business begin at home.