Kenya Posts Improvement in 2018 Ease of Doing Business Rankings

India is now at 77 on the World Bank’s ease of doing business climbing 23 places

India is now at 77 on the World Bank’s ease of doing business climbing 23 places

India has shot up by 23 spots to reach the 77th position among 190 nations in World Bank's Ease of Doing Business ranking.

India was ranked 100th in World Bank's Doing Business Report previous year, moving up from 131th position that it recorded in 2016.

"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. It's unclear at the moment whether these changes were ironed out for the 2018 version released on Wednesday.

The improved ranking will boost the sentiment of Prime Minister Narendra Modi's government ahead of the general election, at a time it's facing flak for rising fuel prices and falling rupee. India is now recognised as among top ten improvers for the 2nd consecutive year.

India is the highest-ranked country in South Asia.

The report, which was released on Wednesday, showed that the country took a step backwards from her 145th position past year.

In the 2019 ranking, New Zealand tops the list, followed by Singapore, Denmark and Hong Kong.

The United States is placed eight and China has been ranked 46th. India's performance on the World Bank's assessment is a positive sign for foreign investors and is likely to reap benefits in the coming days, said Arun Kumar, Chairman and CEO, KPMG.

The World Bank's latest Doing Business Report 2019 released on Wednesday showed that various measures undertaken by the government had helped India jump 23 places from its rank of 100 in 2017.

"What firms actually encounter "on the ground" is perhaps more important, but there are limitations to our ability to measure and interpret those experiences without bias".

The report also finds that Pakistan made resolving insolvency easier by enabling the continuation of the debtor's business during insolvency proceedings. As a result, the time to start a business was reduced from 20 days to 17 days, while the cost was reduced from 7.9 per cent of the income per capita to 6.8 per cent.

Also, "India made paying taxes easier by replacing many indirect taxes with a single indirect tax, the GST, for the entire country".

Board of Investment, being the secretariat of Prime Minister s Steering Committee on Doing Business Reforms, briefed the press on the reforms behind improvements made in Pakistan s ranking and reforms being introduced to improve it further.

While talking to the media, Fareena Mazhar, Executive Director General BOI, explained that in addition to introduction of reforms, other positive data corrections also contributed to the unprecedented improvement in ranking of Pakistan. With all uniform construction bye-laws, from 184 in 2014 ranking we have jumped up by 129 points to 52.

All four economies improved in the area of getting electricity and passed reforms simplifying the process of trading across borders, it said.

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