Rampant rule breaking and corruption are stymying reform and holding ndia back as an investment destination. Rebecca Abraham reports
The World Bank’s ease of doing business report, published every October, is seen as a reliable indicator of whether a country has what it takes to draw in investments and investors. The report, which is keenly awaited by governments around the world, measures business regulations in 11 areas that affect small and medium-sized companies across 189 economies.
India is currently ranked 142, slightly worse than Sierra Leone and Uzbekistan, and a little better than West Bank and Gaza, and Gabon. This is clearly unacceptable. The government of Prime Minister Narendra Modi aims to move India up to within the top 50 by 2017 and has put in place measures to simplify and rationalize existing rules.