India Inc not happy over World Bank’s rankings

Tribune News Service

New Delhi, October 26

India Inc today said there have been significant changes on the ground in the ease of doing business which are insufficiently captured in the latest World Bank Doing Business rankings. In the World Bank’s latest ‘Doing Business’ 2017 report, India’s place remained unchanged from last year’s original ranking of 130 among the 190 economies that were assessed on various parameters.

CII president Naushad Forbes said on the ground, there have been significant changes in ease of doing business which are insufficiently captured in the latest World Bank Doing Business rankings.

“The Doing Business report recognises India’s reforms in key parameters, but measures the investment climate only in Delhi and Mumbai. Many reforms that have taken place with the monitoring of DIPP at the state-level are not considered and do not reflect in the countrywise ranking,” he said.

Assocham said though the government has made several path-breaking changes in legal framework and policy prescriptions like enactment of Goods and Services Tax, changes in insolvency law, liberalisation of FDI limits and rules in a host of sectors, the impact on the ground is generally visible after a lag.