Ease of doing biz: India guided by mantra of reform & transform, says Modi

Prime Minister Narendra Modi on Tuesday hailed as "historic" the jump in India's ranking in 'ease of doing business' and said it was a result of "all-round & multi-sectoral reform push".

He said the government is determined to further improve the rankings and scale greater economic growth with the mantra of 'reform, perform and transform'.

"Historic jump in Ease of Doing Business rankings is the outcome of the all-round & multi-sectoral reform push of Team India," Modi tweeted.

India has jumped 30 places to rank 100th in the World Bank's 'ease of doing business' ranking, helped by a slew of reforms in taxation, licensing, investor protection and bankruptcy resolution.

"Over the last 3 years we have seen a spirit of positive competition among states towards making business easier. This has been beneficial," the prime minister said.

He said it has never been easier to do business in India.

"India welcomes the world to explore economic opportunities our nation has to offer," Modi said.

"Easier business environment is leading to historic opportunities for our entrepreneurs, particularly MSME sector & bringing more prosperity," he added in another tweet.

"Guided by the Mantra of Reform, Perform & Transform we are determined to further improve our rankings & scale greater economic growth," Modi said.