Improving India's Position: A Look at the 2018 EODB Rankings Improvement and Its Significance
The World Bank's 2018 East of Doing Business (EODB) rankings have placed India at the 100th position out of 190 countries, marking a significant improvement from its 130th rank in the previous year. This 30-place jump is the best improvement among all the countries surveyed, according to Finance Minister Mr. Arun Jaitley.
The EODB rankings, which were benchmarked to June 2017, measure the ease of doing business in a country by examining 11 sets of indicators, compared to just 5 in the first rankings in 2004. These indicators include starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, enforcing contracts, trading across borders, and resolving insolvency.
India's impressive improvement is not its best ever, however. Rwanda, in 2010, had the best improvement with a jump of 72 places. Azerbaijan in 2009 and Georgia in 2007 also made significant leaps, with jumps of 63 and 63 places respectively.
Twenty economies improved their rankings by 10 or more in the latest rankings. Of these, Mauritius (25th) and Thailand (26th) have the best overall rank.
It's important to note that the EODB data often focus on a specific business form, generally a limited liability company, and may not be representative of the regulation on other businesses like sole proprietorships. Additionally, for 11 economies, including India, data is also collected for the second largest business city (Mumbai & Delhi in India's case).
Prime Minister Mr. Narendra Modi and Mr. Jaitley both hailed India's progress, with Mr. Jaitley stating that India's 30 point jump is the highest any country had made in the EODB rankings. However, it's not clear whether Mr. Jaitley meant that India's jump is the best in the 2018 rankings or the best ever.
In the past, countries like New Zealand have made larger strides in the EODB rankings than India, which has consistently improved its rankings but not always achieved the largest jumps. Specific countries with larger jumps than India are not immediately apparent from the search results, as these do not contain detailed EODB rankings.
Nonetheless, India's improvement in the EODB rankings is a positive step towards creating a more conducive regulatory environment for starting and operating a local firm, and indicates the government's commitment to making doing business in India easier.
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