India has made it easier to secure to procure construction permits, according to the World Bank report [Xinhua]India has moved up 30 places from the World Bank’s last year’s ease of doing business rankings.
Starting a business in India is now faster, says the World Bank report.
This jump is “a very clear signal from India to the rest of the world that not only has the country been ready and open for business, as it has been for many decades, it is now competing as the preferred place to do business globally,” Annette Dixon, World Bank’s vice president for South Asia said on Tuesday in New Delhi.
The report lauds India for boosting access to credit system and making it easier to secure to procure construction permits.
However, a majority of economists forecast a broad and marked slowdown expected in economic activity in India.
A currency ban last year and the new goods and services tax (GST) have disrupted India’s business activity and dampened consumer demand. The World Bank report said it has excluded the impact of both these measures.
The Indian economy grew at 5.7 percent annually in the April-June quarter, its lowest level in more than three years.
TBP and Agencies
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