By Prashant Narang, Manager, iJustice and Priyaveer Singh, Student, RGNUL Patiala
The World Bank’s Doing Business project ranks business regulatory frameworks across 189 economies. The project objectively measures the regulations applying to the domestic small and medium-size companies at entry, operational and exit stages.
The latest report on Ease of Doing Business 2015 ranked India for doing business as 142 out of 189 countries, which is a two-step drop from the last year’s footing. Furthermore, being stagnant at its last year ranking, enforcing contracts in India is ranked as low as 186 out of 189 countries. There is an urgency to focus on improving the business environment and arrest the decline in relative performance against various determinants of investment attractiveness. Having such lower figures pose great challenge for India to show its credibility and suitability as a host country for the foreign investors and is detrimental to the interests of an economy growing so rapidly as India.