China hails India's Ease of Doing Business leap; eyes 'win-win'

After phemenal jump of 14 ranks by India in World Bank's 'ease of doing business', Chinese Ambassor to India, Sun Weidong has appreciated jump and extended China’s interest to work with India on more industrial and manufacturing co-operation with enhanced relations between two nations. Chinese Ambassor took to Twitter to anunce neighbour's reiness to work with India on industrial and manufacturing cooperation after 'ease of doing business' jump.

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Third-year in a row

This is third year in a row that India has me it to  top 10 performers in Ease of Doing Business report, which is a success which very few countries have done over 20 years of project, "Without exception, or countries that have done this are very small, population-wise, and homogeneous," Simeon Djankov, Director of Development Ecomics at World Bank told PTI in an interview. "India is first country of its to achieve that. It has jumped this year by 14 positions," he said. Apart from India, or countries on this year's 'top 10 performers' list are Saudi Arabia (62), Jordan (75), Togo (97), Bahrain (43), Tajikistan (106), Kuwait (83), China (31) and Nigeria (131).

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India's phemenal jump

India has jumped 14 places to 63rd position on World Bank's ease of doing business ranking released on Thursday.  overall ranking is based on ten factors including starting a business (136th rank), dealing with construction permits (27th rank), getting electricity (27th rank) and registering property (154) among ors.

A seven-year trend shows that India has been on path of improvement with regard to ease of doing business. In 2013 and 2014, India was ranked 134 which improved to 131 in 2015 and followed by a one-point jump to 130 in 2016. India jumped drastically by 30 places to 100th rank in 2017. In 2018, country jumped ar 23 places to reach 77th rank which has been furr improved by ar 14 points to 63rd rank in 2019.

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'Ease of doing business index' ranks countries against each or based on how regulatory environment is conducive to business operation, stronger protections of property rights among or parameters. Ecomies with a high rank (1 to 20) have simpler and more friendly regulations for businesses. Singapore tops list of 'ease of doing business'.

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