Govt expects significant jump in World Bank's ease of doing business ranking this year

New Delhi: India's ranking is expected to improve further in the World Bank's ease of doing business report this year on the back of reforms carried out by the government, a top government official said on Wednesday.

The World Bank's 'ease of doing business' report is slated to be released in October.

"We are optimistic that again we will be making a significant jump in the ease of doing business ranking," Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said here.

Representational image: Shutterstock

Representational image: Shutterstock

India leapfrogged 30 places to rank 100th in the last World Bank's 'ease of doing business' ranking report.

Speaking at the Taiwan-India Industrial Collaboration Summit, the secretary said that several areas, including starting a business and paying taxes, have seen an improvement.

He also asked the Taiwanese businesses to invest in India as the country holds huge potential.

"This is a good time for investments in India," he said, adding Indian economy is likely to touch $5 trillion mark by 2025 and $10 trillion by 2030.

"We are removing all the bottlenecks and obstacles in areas like logistics and infrastructure," he said.

The secretary also said that the department would be setting up a Taiwan Plus cell to hand hold investors in India.

He said India has attracted $230 billion FDI in the last four years and Invest India is facilitating foreign investments worth $90 billion.

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Updated Date: Aug 29, 2018 17:37:37 IST

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