Back in 2014, the Government of India launched an ambitious program of regulatory reforms aimed at making it easier to do business in the country.
To make this happen, the Government has created a conducive environment by streamlining the existing regulations and processes, eliminating unnecessary requirements and procedures. Thereby, the delivery of government services has been improved in several areas to help businesses grow.
As a result of these efforts, India’s ranking on the World Bank’s Doing Business Report (DBR) of 190 countries, has improved from 142nd position in 2014 to the 63rd position in 2020.
It has earned a place among the world’s top 10 improvers for the third year in a row.
The country has emerged as one of the most attractive destinations not only for investments but also for doing business, How?
Well, because of certain positive changes, like – Construction Permits – India’s ranking on this parameter has improved from 184 in 2014 to 27 in 2019.
This improvement has been mainly on the account of a decrease in the number of procedures and time taken for obtaining construction permits in India.
Second, Getting Electricity: It takes just 53 days and 4 procedures for a business to get an electricity connection in India! The country’s ranking on this parameter has improved from 137 in 2014 to 22 in 2019.