02 MAR,2020 | MEDC
India has been performing reasonably well in the ease of doing business index prepared by the World Bank. In 2019, India was ranked 63 amongst 190 countries evaluated, a jump of 14 notches from its 2018 rank. Given this background, we need to reflect on whether the current economic policy environment is conducive to a further upward movement in the rank in the coming years. This question matters in view of a few roadblocks that may hinder the prospects of enhancing the ease of doing business in India. Probably the most important is the simplification and rationalization of the GST, to ensure that compliance and revenue collection rise. We need to simultaneously build an inclusive digital network in the country. India should use the ongoing US China trade war to its advantage, by promoting itself as an alternative and attractive investment destination, primarily by getting its infrastructure development and regulatory acts together. It isn’t easy, but surely an effort worth undertaking.
*Photo Credit: Google