PUTTING THE EASE BACK IN DOING BUSINESS

The platforms India has created will improve ease of doing business and help the nation become a developed economy.

- AJAY S. SHRIRAM

IN THE PAST 10 years, a slew of transformative activities in India have delivered more than improving just the business landscape. From better compliance to transparency, the aspects overlooking a business and its lifecycle have undergone a sea change. Businesses today, from inception to operations to their seizure, have a system to follow and meaningfully contribute to economic expansion and job creation.

However, the current speed of business change in the AI age demands faster resolution. What more can India do to improve the ease of doing business? The latest Economic Survey, Budget announcements, and government dossiers document that growth and India’s emphasis on deregulation, underlining the government's objective of creating a more seamless and business-friendly regulatory environment.

Global endorsements and sectoral progress

What is notable is India’s commitment to improving the ease of doing business. That is increasingly getting recognition in the World Bank’s Ease of Doing Business Report which saw India rise to 63 in 2020 from 142 in 2015. Understandably, one can expect the newer iteration of this report to reflect India’s continued progress.