CII submits reports on improving ease of doing business

Industry body Confederation of Indian Industry Wednesday submitted an action plan to the government for improving India's ranking on the parameters measured by the World Bank in its ease of doing business report.

According to the industry body, it has shared three reports with the government dealing with the existing best practices to improve India's overall rankings.

The Confederation of Indian Industry (CII) said that its reports recommends rationalisation of taxation regime, facilitative land acquisition process, streamlining investment approval and provisions of utilities.

"With Government's reformative drive and resolve, scalable improvement in ease of doing business through the proposed action plan will enhance investment attractiveness of the Indian economy and help attain higher GDP (gross domestic product) growth and spur job creation in a sustainable manner," said Chandrajit Banerjee, director general, CII.

CII further said that it believes that the technology aspect is one of the greatest enabler for ease of doing business as multiple processes can be merged together .

"This single factor will help improve India's position on all the parameters identified by World Bank. CII can assist the government in this endeavour so that the replacement of the current process on to IT based platform can be conducted seamlessly," Banerjee said.

In the recently released World Bank's 'Doing Business 2015' report, India is ranked low at 142 out of 189 countries in the overall ease of doing business.