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India Jumps 30 Places in World Bank Ease of Doing Business Report

November 1, 2017 - Washington, United States & New Delhi, Delhi, India

Business Wire India
The World Bank released its annual “Ease of Doing Business Report,” yesterday, in which India climbed a historic 30 spaces forward, due to reforms and policy changes that have been made by the government of Prime Minister Narendra Modi. This year’s ranking represents India’s highest ever increase and signals the momentum for reforms being made under Prime Minister Modi. India is the only large country featured in this year’s reports that has achieved such a significant shift.

USISPF commends this important achievement, which reflects the incredible progress India has made in recent years in increasing the ease of doing business in the country. John Chambers, Chairman of USISPF, congratulated Prime Minister Modi for this achievement, adding, “India’s future is brighter than ever thanks to the government’s willingness to embrace tough but essential economic reforms, such as demonetization and creating the Goods and Service Tax. This, in combination with unprecedented investments in its digital infrastructure and workforce, will only continue to strengthen the U.S.-India strategic partnership for years to come.”

Indra Nooyi, USISPF Board Member and Chairman and CEO of PepsiCo, spoke about the improvements being made for retail companies, saying “India’s economy is making tremendous progress adapting to the demands of life in the 21st century, particularly when it comes to digital infrastructure and using technology to turn demonetization into remonetization. Given the Prime Minister’s commitment to making it easier for international companies to do business, I have a feeling that the pace of change will only accelerate, and before long Incredible India will be known as Innovative India.”

Punit Renjen, USISPF Board Member and CEO of Deloitte spoke about this report’s significance for the services sector, saying, “India has streamlined the business incorporation process by combining elements for submission into a single form. I commend the efforts being made by the Government of India, which will greatly improve the ease of doing business for the services sector, and across all sectors.”

The improvements over the past year have put India on this year’s World Bank list of top ten improvers for doing business among all countries across the world. Mukesh Aghi, President of USISPF, said, “we applaud the efforts made by Prime Minister Modi’s government. The 30 slot increase shows results made by the Prime Minister and will have a strong impact on Foreign Direct Investment (FDI) in India going forward.”

USISPF aims to build upon this already significant trajectory that has been built under the Modi government and is working with both local and central governments to further these reforms and build FDI by engaging U.S. member companies in these efforts.

USISPF has carefully selected the most well-regarded, global Board of Directors for India related matters. These members serve as both prominent business leaders and global influencers with an ability to impact international relations and corporate affairs worldwide. While promoting trade is an important pillar of the organization’s work, it also focuses on promoting job creation, inclusion, start-ups, innovation, and education. USISPF works to create the most powerful strategic relationship between the United States and India, and believes this can be achieved by business and government coming together to create meaningful opportunities that have the power to change the lives of citizens.

As champions of the U.S.-India commercial and strategic partnership, we believe there is an unprecedented opportunity for business communities in both countries to play a larger role in the next chapter of this important bilateral partnership. USISPF is uniquely suited to work together with leaders in the United States and India to achieve our shared goals. Headquartered in Washington, D.C., USISPF has offices in New York, Silicon Valley, Mumbai, and New Delhi.
About the U.S.-India Strategic Partnership Forum (USISPF)

The US-India Strategic Partnership Forum is committed to creating the most powerful strategic partnership between the U.S. and India. Promoting bilateral trade is an important part of our work, but our mission reaches far beyond this. It is about business and government coming together in new ways to create meaningful opportunities that have the power to change the lives of citizens.

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Source: Business Wire India


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