A top Indian American economist has said, India as a place for business is a lot more attractive than its ranking by the World Bank suggests.
In an interview to a news agency, Arvind Panagariya, professor at the Columbia University, observed that the recent increase in India’s ease of doing business ranking by the World Bank was long overdue.
The former vice chairman of NITI Aayog said, the world bank collects its data in Delhi and Mumbai, not in the states with the best business environment such as Andhra Pradesh and Gujarat.
Mr Panagariya was responding to a question on the latest annual report of the World Bank on ease of doing business. India registered an impressive 30-point jump in one year, registering the best performance among emerging economies.
Based on the series of reforms that have been going on for quite some time now, the economist exuded confidence in further improvement in India’s ranking next year.
Prime Minister Narendra Modi has now set the target of India’s ranking in ease of doing business in the top 50.