India has accelerated its efforts to improve the business climate and has initiated transformational reforms in its local regulatory framework over the past one year, finds the World Bank Group's new annual ease of doing business report.
Wider adoption of these new reforms, according to the report, could lead to significant improvements in its business environment in the next few years.
Doing Business 2017: Equal Opportunity for All, captures reforms implemented in 190 economies in the year ending June 1, 2016.
While India is ranks at 130 in this year's report (131 last year after making methodological adjustments to the Doing Business 2016 data), importantly its distance-to-frontier score has gone up from 53.93 in Doing Business 2016 to 55.27 in Doing Business 2017.
Distance-to-frontier score is the absolute measure of a country's progress towards best practice in business regulation. A higher score indicates a more efficient business environment and stronger legal institutions.
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