New Delhi: India ranks 132 out of 183 countries in terms of the domestic regulatory environment for doing business, according to a World Bank and International Finance Corporation (IFC) report released recently.
“India’s rank in this year’s report has improved by seven due to the improvement in regulatory framework, which now allows for e-filling of value added tax and collateral registry,” Dahlia Khalifa, senior advisor, World Bank Group, said.
According to Khalifa, reforms in registration of credit, tax and trade information have helped India improve its domestic business environment.
In another section of the report which looks at reforms in the last six years, India fared much better and was ranked 22.
“In the last six years, India has made 20 business regulation reforms in seven key areas and has now become a leader in areas such as getting credit, collateral registry and protection of investors,” he added.
In areas such as getting credit, India stood at the 40th rank, while in investor protection, it was ranked 46.
Meanwhile, India fared poorly in areas such as starting a business (166th rank), getting an electricity connection (98), construction permits (181), paying taxes (147) and contract enforcement (182).
This is the ninth annual report by the World Bank which studies the domestic regulatory environment for enterprises.