Enabling Businesses

India has jumped 14 places to move to the 63rd position in this year’s global ease of Doing Business rankings. The Machinist presents a quick analysis.

- Niranjan Mudholkar

India earned a place amongst the world’s top ten improvers for the third consecutive year in the World Bank Group’s Doing Business 2020 study. While India was ranked at the 77th position last year (2018) in the Global Ease of Doing Business rankings, sustained business reforms have helped India jump 14 places to move up to 63rd position this year. The Machinist believes that this is a commendable achievement and also spoke to some industry leaders to understand their perspective on this improvement.

NOTEWORTHY JUMP

Anil Verma, Executive Director & President, Godrej & Boyce says, “An improvement of 79 places from 142nd in 2014 to 63rd in 2019 is indeed noteworthy and speaks a great deal about how the government has focused its energies in improving the business environment in the country.” Harsha Kadam, CEO & President -Industrial Business, Schaeffler India calls it a remarkable achievement for our country. “It is a reflection of the persistent efforts of the government to drive the business reforms agenda, not only at the central level but also at the state level.” Abhyuday Jindal, MD, Jindal Stainless, acknowledges the government’s push on reforms saying that they have reaped benefits. “It’s a win-win situation for both the economy and industry. These reforms have increased transparency levels, which have boosted the confidence of investors and businesses in India. However, the vast untapped potential of the Indian economy will be fully realized once policy enforcement on the ground is implemented in its entirety.”