India Sees Slight Improvement in World Bank’s Doing Business 2011
Nov. 4 – India improved by only one spot over last year in the World Bank’s Doing Business 2011 report, which details and ranks the ease of conducting business in 183 countries around the world.
With an overall rank of 134, India was among the top 50 countries in terms of obtaining credit and protecting investors according to the annual report, but ranked among the lowest 50 countries in terms of starting a business, dealing with construction permits, paying taxes, enforcing contracts, and closing a business.
While the cons seem to outweigh the pros, India was nevertheless listed among the world’s 40 most-improved economies for having made significant regulatory changes to make it easier for domestic companies to do business in the country.
“Since 2005, India has implemented 18 business regulation reforms in seven areas covered by doing business, creating more opportunities for local firms,” said the International Finance Committee, a subsection of the World Bank.
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