In September 2021, the World Bank Group scrapped its flagship publication, the ‘Ease of Doing Business’ report.
This report published the influential annual ranking of countries on the Ease of Doing Business (EDB) index.
It will be working on a new approach to assessing the business and investment climate.
What’s the issue?
In August 2020, World Bank paused the publication of Doing Business reports following a number of irregularities were reported regarding changes to the data.
The irregularities in Doing Business reports had affected four countries: China; Saudi Arabia; United Arab Emirates; and Azerbaijan.
A probe of data irregularities cited “undue pressure” by top bank officials, including the then-Chief Executive Kristalina Georgieva, to boost China’s ranking in 2017.
This raised ethical matters involving former bank staff and board officials.
About the report
The report was introduced in 2003 to provide an assessment of objective measures of business regulations and their enforcement across 190 economies on ten parameters affecting a business through its life cycle.
10 different parameters namely,
Starting a Business,
Dealing with Construction permits,
Protecting minority Investors,
Trading across borders,
Contracts enforcement, and
India's performance in report
India jumped 23 spots from 100th in 2017 to 77th in 2018.
India was at the 130th spot in 2016.
India has improved its rank by 53 positions in the last two years, (2016-2018) and 79 positions in the last five years (2014-19).
Now, India is the best-ranked country in South Asia and has almost caught up with other competitors like Indonesia (73) and Vietnam (70).
The World Bank report also recognises India as one of the “top ten improvers” in this year’s assessment, for the second consecutive time. India is one of only 9 economies around the world and only one in BRICS nations to be included in this list.
In Ease of Doing Business Report, 2020,
India was placed at 63rd position this time (2019) out of 190 countries marking an improvement of 14 places from its 77th position in 2018.
India’s score improved from 67.23 in the previous year to 71.0 this year.
India for the third consecutive year was present in the list of 10 economies where the business climate has improved the most.
Going forward, the World Bank Group should work on a new approach to assessing the business and investment climate.