New Delhi: India is likely to be ranked “better” this year in the World Bank’s ‘Ease of Doing Business’ report as the government has taken several steps in this direction, Commerce and Industry Minister Nirmala Sitharaman said today. India is ranked 142 among 189 nations in the World Bank’s ‘Ease of Doing Business 2015’ report. With the exception of two parameters (getting credit and protecting minority investors), India does not feature in the top 100 in the remaining parameters.
“Last year there was a debate as to why India was poorly fared in that (ranking). With the slew of steps, this year we hope India would be ranked better,” Sitharaman said at a CII function here.She also said that the World Bank together with a professional agency could release the ranking of Indian states on ‘ease of doing business’ this week.
Most of the states have taken a series of steps to remove red-tapism and improve business environment, she said, adding “they (states) can no longer be red-tape ridden states”.
Addressing businesses, the minister said government is ensuring greater market access for Indian industry in the trade agreements which it is negotiating.
“We as exporters should get best of market access,” she said.
Sitharaman asked industry to “push forward now” to take risks and invest in the country.
“You have to take risks, you have to invest. You have to choose your destiny. You have to capitalise on Indian domestic market and its demographic dividend,” she added.
The government has been making investments to improve infrastructure. It has taken a series of steps to improve business environment that include having a timeline for clearance of applications, de-licensing the manufacturing of many defence products and introduction of e-Biz projects for single window clearance.
Sitharaman said huge opportunities exist in sectors such as health care, energy, automobile and defence for investments in northern states which have shown growth of about 7.7 per cent during 2004 to 2014.