Doing business in India is now easier than ever: WB

Doing business in India is now easier than ever: WB

India, according to the latest World Bank Doing Business Report (DBR 2019), has emerged as one of the top improves for the year. According to the report, India jumped 23 positions to rank 77 from its 2017 ranking of 100, helped by improvements in 6 out of 10 indicators. The honour, for the second straight year, by World Bank takes into account the ease of starting and doing business in a country.

A Ministry of Commerce and Industry statement said: “India’s leap of 23 ranks in the Ease of Doing Business ranking is significant considering that last year India had improved its rank by 30 places, a rare feat for any large country of the size of India.” The statement added: “India has improved its rank by 53 positions in the last two years and 65 positions in the last four years.”

Factors that helped India

In making the assessment, the World Bank reviews 190 countries around the globe based on 10 parameters including ease of dealing with construction permits, trading across borders, starting a business, getting credit, getting electricity, paying taxes, enforcing contracts and resolving insolvency. Among these, the most dramatic improvement for India in the 2019 report has been registered in the indicators related to ‘Construction Permits’ and ‘Trading Across Borders’.

In granting construction permits, India improved by a whopping 129 ranks in a single year from 181 in 2017 to 52 in 2018. In ‘Trading across Borders’, India’s rank improved by 66 positions from 146 in 2017 to 80 in 2018. India, according to the World Bank, has also moved closer to international best practices (Distance to Frontier score) on 7 out of the 10 indicators.

When it comes to starting a business, India has made it easier by adopting a single window clearance system by merging multiple application into a single one. The DBR ranks countries on the basis of Distance to Frontier (DTF), a score that shows the gap of an economy to the global best practice and this year, India’s DTF score improved to 67.23 from 60.76 in the previous year.




Coming soon to China: the car of the future

Coming soon to China: the car of the future

Global automakers are positioning for a brave new world of on-demand transport that will require a car of the future -- hyper-connected, autonomous, and shared -- and China may become the concept’s laboratory. With ride-hailing services booming and car-sharing not far behind, the ne

Japan, China shares climb in thin holiday trade

Japan, China shares climb in thin holiday trade

Tokyo and Shanghai stocks closed higher yesterday but trade lacked direction with several major markets closed for Easter holidays. In Japan, the benchmark Nikkei 225 index added 0.50 percent, or 110.44 points, to 22,200.56, while the broader Topix index climbed 0.12pc, or 1.96 points, to 1,616.9

Oil lifts most of Gulf markets

Oil lifts most of Gulf markets

Saudi Arabia’s stock market rose yesterday on the back of its banks as rising oil prices lifted most major Gulf markets, while Egypt was partly dragged down by its biggest lender Commercial International Bank. Brent oil hit 2019 high above $72 a barrel yesterday, propelled by steady economi

Minister pledges to back start-ups, new businesses

Minister pledges to back start-ups, new businesses

Minister of Industry, Commerce and Tourism, Zayed Alzayani yesterday pledged the government ’s full support to start-ups and new commercial businesses in the Kingdom. The minister was speaking during the Bahrain British Business Forum (BBBF) meeting held yesterday at The Gulf Hotel

Export Bahrain, Gulf Air Cargo in deal

Export Bahrain, Gulf Air Cargo in deal

Export Bahrain signed an exclusive partnership with Gulf Air’s Falcon Cargo to provide SMEs in the Kingdom of Bahrain, exporting their goods to the tune of 100 kilograms or above, with a special discount of up to 40 percent on their cargo exports. The partnership agreement was signed during

China probes Sweden’s Ericsson over licensing

China probes Sweden’s Ericsson over licensing

Swedish telecom giant Ericsson said yesterday that China’s market regulator was investigating the company over licensing issues as countries around the world prepare to roll out the next generation of mobile networks. China’s State Administration of Market Regulation is invest

Bapco holds annual luncheon, 2018 awards

Bapco holds annual luncheon, 2018 awards

Bapco celebrated its environmental, health and safety (EHS) achievements during 2018 by holding its annual luncheon for more than 300 Bapco and contractors employees on 11 April 2019 at Bapco Club in Awali. During the gathering, awards were presented to Bapco departments, contractors and

PSG title party delayed again

PSG title party delayed again

Paris Saint-Germain missed the chance to seal their sixth Ligue 1 title in seven years for the second week running on Sunday after a 5-1 hammering at Lille, their biggest league defeat in 10 years. Thomas Tuchel’s side could have been crowned champions in record-equalling time last weekend

Abu Dhabi hits near 5-year high

Abu Dhabi hits near 5-year high

Abu Dhabi’s stock market rose to a near five-year high yesterday, lifted by First Abu Dhabi Bank, while petrochemical stocks led gains on Saudi Arabia’s main index. The Abu Dhabi index was up 0.9 percent after hitting its highest since May 2014. First Abu Dhabi Bank, the Unite


Djokovic knocked out as Nadal battles on in Monte Carlo

Djokovic knocked out as Nadal battles on in Monte Carlo

World number one Novak Djokovic was dumped out by Daniil Medvedev while Rafael Nadal survived a struggle to reach the semi-finals of the Monte Carlo Masters for the 14th time yesterday. Djokovic, twice a champion in the principality, lost serve five times in a 6-3, 4-6, 6-2 defeat by Russ

Chelsea fight off Slavia

Chelsea fight off Slavia

Chelsea was given a fright by Slavia Prague in a 4-3 home win on Thursday that saw them to a 5-3 aggregate victory and a place in the semi-finals of the Europa League. Already 1-0 up from the first leg, Chelsea were cruising when they scored three more goals in the first 17 minutes at Sta

Coming soon to China: the car of the future

Coming soon to China: the car of the future

Global automakers are positioning for a brave new world of on-demand transport that will require a car of the future -- hyper-connected, autonomous, and shared -- and China may become the concept’s laboratory. With ride-hailing services booming and car-sharing not far behind, the ne

Japan, China shares climb in thin holiday trade

Japan, China shares climb in thin holiday trade

Tokyo and Shanghai stocks closed higher yesterday but trade lacked direction with several major markets closed for Easter holidays. In Japan, the benchmark Nikkei 225 index added 0.50 percent, or 110.44 points, to 22,200.56, while the broader Topix index climbed 0.12pc, or 1.96 points, to 1,616.9

GCC pledge for Yemen wins UN praise

GCC pledge for Yemen wins UN praise

The UN Security Council has commended Saudi Arabia and the UAE after the two countries pledged $200 million in humanitarian relief assistance for Yemenis for Ramadan. Council members voiced their concern that agreements between the Yemeni government and Houthis in Stockholm four months ag

Bahrain to mark Arab Deaf Week

Bahrain to mark Arab Deaf Week

Bahrain will mark the 44th Arab Deaf Week during this month’s last week. The pan-Arab Deaf Week was first launched in 1974 following the recommendations of the Arab Federation for the Deaf to enhance social awareness on the basic rights of this category of people Labour and Social Deve

Five jailed for sheltering fugitives

Five jailed for sheltering fugitives

The Lower Criminal Court has sentenced five defendants to one year behind bars each for sheltering two wanted fugitives, while a sixth suspect was freed due to lack of proof. The third defendant was the one who planned to provide the two wanted men with shelter after he received a call fr

Stranded expat ‘leading roofless life’

Stranded expat ‘leading roofless life’

A stranded expat in the Kingdom is devoid of basic necessities of life including a roof to sleep under. Indian national Sulaiman Kunju, has been living on the terrace of a building in Manama for the last four months, battling the last winter. Speaking to Tribune, Sulaiman said that he cam