Further improving its rank on the World Bank’s ease of doing business index, India has been placed in 63rd position in the 2020 report released on Thursday.
While India has improved its ranks by 14 places on the back of continuing reforms, it has still fallen short of Prime Minister Narendra Modi’s target of breaking into top 50.
In the last year ranking, India was placed at 77th place. The 2019 report had named India as “one of the economies with the most notable improvement” for the third year in a row.
India had broken into the club of top 100 in the 2018 report.
New Zealand has topped the list while Singapore is placed second. Somalia is placed last in the list of 190 economies.
In terms of category wise ranking, India’s best performance is in Paying Taxes where it has been placed on 13the position. In other categories, India is placed on 136th position in Permits, 27th in Getting Electricity, 22nd in Registering Property, 154th in Getting Credit and 115th in Trading across Borders.