In an embarrassment for the Narendra Modi government, even allowing for the short time it has been in office, India dropped two places to stand 142nd out of 189 countries ranked by the World Bank for ease of doing business.
In the ten metrics used to measure ease of doing business in the Bank’s 2015 report, India stood a wretched 184th in the category “Dealing with Construction Permits,” and 186th in “Enforcing Contracts.” On the bright side, India stood 7th, an improvement of 14 places, when it came to “Protecting Minority Investors.” It is the only category in which India has shown an improvement from 2014, when it was ranked 21 in this category and 140 in the overall ease of doing business.
Getting construction permits in India involved an average of 25 procedures that took 186 days, and cost 28 per cent of the warehouse value. Enforcing contracts took 46 procedures and 1420 days — nearly four years. Getting electricity took 106 days and registering a property took 47 days.