India climbed 14 rungs in the World Bank’s Ease of Doing Business ranking to stand at the 63rd position and figured among the world’s top 10 most improved countries for the third consecutive time on the back of faster bankruptcy resolution and issuance of construction permits.
The rise, which comes on the back of a 23-spot jump last year, underscored the reformist credentials of the Modi government that is hard pitching India as an alternative investment destination to China.
“India put in place four new business reforms during the past year and earned a place in among the world’s top ten improvers,” World Bank said.