India improving its rank in World Bank’s Doing Business Index: Suresh Prabhu
Commerce and Industry Minister Suresh Prabhu hinted at improvement in Indias ranking in the World Banks ease of doing business report, to be released Wednesday
New Delhi: Commerce and Industry Minister Suresh Prabhu hinted at improvement in India's ranking in the World Bank's ease of doing business report, to be released Wednesday.
"Tomorrow, you will be hearing a better news about India improving parameters on ease of doing business. We already have improved substantially. We will make the formal announcement tomorrow with the World Bank (releasing its report)," Prabhu said here on Tuesday.
India jumped 30 places to rank 100th among 190 nations in the last year's World Bank's 'ease of doing business' index. The World bank ranks countries based on 10 parameters, including starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts, and resolving insolvency.
According to sources, improvement is expected in parameters, including construction permit, starting a business, and trading across borders. Further talking about India-US trade relations, the commerce minister said that New Delhi is actively engaged with Washington to resolve the issues.
He said that India would like to work with the US on global challenges to multi-lateral trading system and matters related to existential issues of the World Trade Organisation (WTO). "We have some trade issues with the US, but we can resolve them," he said.