We Look Forward To Improvement In EODB Ranking To Below 50 Going Ahead: PHD Chamber

PHD Chamber of Commerce and Industry has congratulated the Modi Government on continuous improvement in the rankings of Ease of Doing Business by the World Bank in which India has improved significantly once again from the rank of 77th in 2019 to the rank of 63rd in 2020. This is the true reflection of the diligent efforts of the government to improve India's position in the global rankings. The country has successfully improved its position from 142nd in 2014 to the rank of 63 in 2020, said Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry in a press statement.

India is among the best performers on the ease of doing business along with Bahrain, China, Jordan, Kuwait, Nigeria, Pakistan, Saudi Arabia, Togo and Tajikistan, said Dr D K Aggarwal. The most significant parameters of ease of doing business such as starting a business, dealing with construction permits, trading across borders and resolving insolvency have shown notable improvement in the improvement of rankings, he said.

This is the third year that India has been recognized for considerable improvement in its business environment in the Doing Business Report by World Bank which shows that the government is committed to make it easy to do business in India for making it a global manufacturing hub, said Dr Aggarwal. The improvement in ease of doing business would facilitate in achieving the Vision of Make in India and to attract domestic and foreign investments with the implementation of reforms at the grassroot level, said Dr Aggarwal.

The Government should focus on the reforms in land acquisition, implementation of fixed term employment in all the states and de-criminalization of businesses as stringent labour laws are a major roadblock to enhance production possibility frontiers and employment generation in the economy, said Dr D K Aggarwal. Going ahead, we look forward to further improvement in ease of doing business to the level of below 50 in the next year's ease of doing business rankings, said Dr D K Aggarwal.

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