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AKIPRESS.COM - India has jumped a massive 30 places to 100 in the World Bank's ease of doing business rankings this year, driven by reforms in access to credit, power supplies and protection of minority investors.
Prime Minister Narendra Modi, who wants the country in the top 50 on the index, called the achievement "historic".
India is closing the gap with China which continues to be ranked at 78 for the second year, NDTV reported.
In the World Bank's report last year, India had risen one place to 130 among the 190 economies assessed. It was ranked 142 in 2014.
PM Modi, in a series of tweets, said the jump in India's ranking was a result of all-round and multi-sectoral reform push. "Easier business environment is leading to historic opportunities for our entrepreneurs, particularly MSME (medium and small scale sector) sector and bringing more prosperity," he tweeted.