India is improving but China is skyrocketing in ease of doing business

6:28 pm
Kenyans walking in Nairobi Twitter

6:28 pm rising Kenyans walking in Nairobi Twitter

As India recorded massive improvement in "Ease of Doing Business ranking", Secretary of Department of Industrial Policy and Promotion said India is recognised among top 10 improvers for the 2nd consecutive year.

The Doing Business report is published by World Bank, which measures the performance in ease of doing business in 190 countries.

Shanta Devarajan, the World Bank's senior director for development economics and acting chief economist, said: "The diversity among the top improvers shows that economies of all sizes and income levels, and even those in conflict can advance the business climate for domestic small and medium enterprises".

The report highlighted that the "government's reform effort focused on improving the electronic processing of documents and providing more information on specific regulations" as state institutions - including municipalities, Justice Ministry and courts - began publishing information relevant to opening a business.

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The reforms introduced in the last year - the second highest number of reforms for Thailand in a single year since the beginning of the Doing Business project in 2003 - carried forward the country's regulatory reform agenda, Ms Warwick said. Among the subcategories, Malaysia ranked 3rd in Dealing with construction permits and 4th in Getting electricity.

Starting a business in the country was also pointed out as a ponderous area for Kenya where it costs 25 per cent of the I'm come per capita to start a business. The country, it added, has improved its ranking by 53 positions in the last two years and 65 positions in four years since 2014.

While there has been substantial progress, India still lags in areas such as Enforcing Contracts (ranked 163 globally) and Registering Property (166).

"Since the start of the Duterte administration, government agencies have been hard at work in implementing initiatives to increase the country's competitiveness".

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The Confederation of Indian Industry, meanwhile, said in a statement: "We look forward to the continued momentum of business reforms and to supporting the government in its endeavour to make India among the top investment destinations". Among South Asian countries, it is now easiest to do business in India. After all ease of doing business is all about minimum governance and your investment process is guided by it. It is among the four of the top Africa's economies that have improved significantly.

Pakistan performs best in the area of protecting minority investors, earning 9 out of 10 points in the extent of ownership and control index, which measures governance safeguards protecting shareholders from undue board control and entrenchment. Enforcing Contracts and Getting Electricity saw milestone reforms, with 49 and 26, respectively.

Rwanda got 3rd place on the aspect of access to credit. "India also replaced the value-added tax with the GST (Goods and Services Tax) for which the registration process is faster", the report said.

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