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(The Gist of PIB) India ranks 63 in World Bank’s Doing Business Report

(The Gist of PIB) India ranks 63 in World Bank’s Doing Business Report
[NOVEMBER-2019]

Doing Business 2020 measures regulations across 190 economies in 12 business regulatory areas to assess the business environment in each economy. Ten of these indicators were used to estimate an ease of doing business score this year.
The DBR ranks countries on the basis of Distance to Frontier (DTF), a score that shows the gap of an economy to the global best practice.
The top 10 best places in the world to do business are New Zealand (with a score of 86.8 out of 100), Singapore (86.2), Hong Kong SAR, China (85.3), Denmark (85.3), the Republic of Korea (84), the United States (84), Georgia (83.7), the United Kingdom (83.5), Norway (82.6), and Sweden (82).

India has recorded a jump of 14 positions against its rank of 77 in 2019 to be placed now at 63rd rank among 190 countries.
India’s Distance to Frontier (DTF) score improved to 71 from 67.23 in the previous year.
For the third consecutive year India is amongst the top 10 improvers. As a result of continued efforts by the Government, India has improved its rank by 79 positions in the last five years [2014-19].
India continues to maintain its first position among South Asian countries. It was 6th in 2014.
India has improved its rank in 7 out of 10 indicators. India saw the biggest jump in ranking in “resolving insolvency” category, to 52nd rank from 108th, while its ranking improved substantially in Dealing with Construction Permits (to 27th from 52nd) and “Trading across Borders” (to 68th from 80th).