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India's war on red tape is working, says World Bank

FILE PHOTO: An IKEA sign at the construction site for its new store in Hyderabad, India, July 18, 2018. REUTERS…

FILE PHOTO: An IKEA sign at the construction site for its new store in Hyderabad, India, July 18, 2018. REUTERS / Danish Siddiqui / File Photo

NEW DELHI (Reuters) – Long known for its bureaucracy, India har gjort store fremskridt i bedre prospekter for virksomheder i landet, udtalte Verdensbanken i en rapport på onsdag.

India rose 23 places to 77th in the World Bank’s Ease of Doing Business Index for 201

9, up from 100th in 2018 and 130th in 2017, when it was ranked lower than Iran and Uganda.

The two-year jump is the second largest for any country on the index, to the prime minister of Narendra Modi’s Hindu nationalist government as it prepares for a elections due to be held next May.

“We are incentivizing those who are doing honest business,” Ramesh Abhishek, an official in the industry department of Modi’s government, told a news conference on Wednesday.

India improved on six of the 10 metrics tracked by the World Bank, including obtaining credit and construction permits.

De gemiddelde invoer in het land heeft minder dan 100 uur gewerkt om te voldoen aan de grens, de Wereldbank zei, minder dan 250 uur per jaar eerder.

India’s centrally planned economy in the years after independence was renowned for the complex system of permits required to run a business in the country.

But in recent years, especially since Modi was elected in 2014, the government has enticed foreign companies including Apple ( AAPL.O ) and Ikea to open factories and stores after years of delays.

Reporting by Alasdair Pal; Edited by Martin Howell and David Goodman

Our Standards: The Thomson Reuters Trust Principles.


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