A World Bank team will
meet DIPP officials next week to discuss steps taken by India to improve its
ease of doing business ranking. DIPP will give a detailed presentation to the
team about the initiatives taken by both the central and state governments
during the last one year, said an official in the Commerce and Industry
Ministry.
Besides meeting
officials at the Department of Industrial Policy and Promotion (DIPP), the team
will interact with various stakeholders to know the impact of the steps taken.
The World Bank carries
out this exercise ever year for the purpose of ranking countries on their ease
of doing business, from 1189. The official said that measures announced by both
state and central government would help in significantly improving India's
ranking. "This year too, our ranking will improve from 130th. But by next
year, we expect that India's ranking will come within 100th," the official
added. India's rank in the Doing Business Report 2016 was improved to 130th
from 134th in the previous year. Government has emphasised on the importance of
ease of doing business and it is a major pillar of 'Make in India' initiative.
The steps taken by the
centre and states in the recent past include increasing validity of environment
clearance from 5 years to 7 years; doing away with environment clearance for 36
white industries and introduction of online registration of VAT with real-time
Tax Identification Number (TIN).
Besides, Mumbai has also
removed the requirement of inspection to make registration of Shops and
Establishments real-time. Improving the position in ease of doing business
reflects investor friendly climate and easy regulatory environment for domestic
and foreign firms. High ranking helps in attracting investments. The Doing
Business Report of the World Bank ranks a country on 10 parameters that assess
areas such as starting a business, construction permits, getting electricity
and conducting trade across borders.
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