With the India jumping 14 ranks to reach 63 on the World Bank’s Ease of Doing Business rankings, it indeed is a proud moment for the Modi government. In 2014 India ranked 142 and now reached 63, which means an improvement of 79 ranks; is a major achievement for the economy.
Medianews4u reached out to some experts across the FMEG and startup sectors for their reactions on the same development.
“The environment for doing business in India has been cohesive for startups.”said, Jitendra Chaturvedi, Director and Founder, Batooni Mobile Advertising.
Continuing Chaturvedi said, “With India jumping 14 spots to the 63rd position on the World Bank’s ease of doing business ranking, is testament to the fact that the government has been undertaking various initiatives to simplify the process of registrations, licenses and compliance requirement to help startups set up business operations in the country with ease.”
Showing complete confidence of the government, Chaturvedi said, “We are positive that with the government’s resilient focus on building a conducive business environment in India, it will further augment in creating a favorable ecosystem for business growth of startups and establish India as the favored investment destination globally.”
Bhavin Turakhia, Founder & CEO, Flock said “India has been consistently moving up the charts when it comes to World Bank’s ‘Ease of Doing Business’ rankings.”
“This is a positive sign from a business standpoint.” said Turakhia.Adding on he said, “We welcome the initiatives undertaken by the Government of India in simplifying the process of setting up business operations. The jump in ranking augurs well for the startup ecosystem and enhances India’s perception as a global business destination. I believe this will go a long way in enabling the country to achieve its goal of becoming a $5 trillion economy by 2025.”
Kishan Jain, Director, Goldmedal Electricals said, “The efforts and commitment by the Government of India over the last few years in introducing economic reforms that harness a healthy business environment has resulted in India jumping 14 notches to the 63rd position in World Bank’s ‘Ease of Doing Business’ index.”
Adding on Jain said, “The continued focus on the promotion of ‘Make in India’ and other measures taken to attract foreign investment and boost manufacturing, is showing positive results. This should enable FMEG companies to expand their business further, resulting in the growth of new employment opportunities in the country. We believe all of this would have a positive impact on India’s GDP growth, making India a global business destination.”
“India has shown consistent growth each year when it comes to World Bank’s ‘Ease of Doing Business’ rankings.”said Shashank Dixit, CEO, Deskera.
Talking about how this is a positive sign for the country, Dixit said, “The country climbing to the 63rd position this year is a positive sign for the startup ecosystem. Several initiatives taken by the Government of India such as relaxing norms for obtaining a building permit, electronic submission of documents, etc. will go a long way in boosting the startup ecosystem and provide a much-needed fillip to India’s GDP growth.”
