India ranks 77th in ease of doing business rankings

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The UAE climbed 10 spots to 11th place in the World Bank's annual ease of doing business ranking, following a package of reforms in the past year that boosted the country's economic competitiveness.

The World Bank has ranked Nigeria 146 out of 190 countries on ease of doing business.

The two-year jump is the second largest for any country on the index, to the delight of Prime Minister Narendra Modi's Bharatiya Janata Party government as it prepares for an election due to be held by next May. It was at 100th place past year and now it is at 77th rank. Pakistan took up the 136th spot.

There are several changes that can be made in regulations and laws in all three areas, so, it is within the realm of the possible for India to enter the top-50 of the rankings.

"Malaysia carried out six business reforms the past year".

Afghanistan improved its score more than any other country after beefing up protection for minority investors.

Grant of a construction permit, trading across the borders, starting a business, getting credit, getting electricity and enforcing contracts showed improvement.

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"Enhanced risk-based management now allows exporters to seal their containers electronically at their own facilities; as little as five percent of shipments must undergo physical inspections", it said, adding that India also invested in port equipment, strengthened management and improved electronic document flow.

The World Bank has also listed India among the "top 10 improvers" for the second time in a row.

Overall, the country improved its Ease of Doing Business score by 2.57 points to arrive at its current 80.60.

"The improvement is the result of a combination of measures taken by the government in the last four years", Commerce and Industry Minister Suresh Prabhu said.

The Doing Business 2019 report showed a new order emerging near the top: now locked in a trade war with China, the US was one of the few countries where creating and running a business grew more wearisome. "Doing Business provides a road map that different governments can use to increase business confidence, innovation, and growth and reduce corruption", said Shanta Devarajan, the World Bank's Senior Director for Development Economics and Acting Chief Economist. Improvements thereon would likely be incremental, with little separating the countries on most parameters.

The country also made trading across border easier as it reduced the time needed to export and import by implementing joint inspections, the NICIS2 electronic system and around-the-clock operations at Apapa Port. India made Paying Taxes easier by merging diverse sales taxes into a single General Sales Tax (GST).

According to the report published Wednesday, Turkey received 74.33 points out of 100, improving 4.34 points since a year ago. It also improved building quality control by introducing decennial liability and insurance.

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