On Thursday, Union Minister of Railway, Commerce, and Industry Piyush Goyal had said that the government is aiming to become one of the top 25 nations in ease of doing business by 2024.
Mr. Goyal told sources, “Our target is to first come among the top 50 countries and then eventually find a spot among the top 25 countries in the list. Only developed countries that have advanced economies are among the top 25. India’s target is to become a part of that club.”
He continued that when Prime Minister Narendra Modi came to power of the centre in 2014, he felt the urgency to reform the economic policies so as to target investment on a large scale.
Mr. Goyal further stated that “there was not much development in the first few years of our government. After the year 2016, we started taking landmark decisions regarding the economy. Once the World Bank started assessing the impact of those decisions, India rose on the ease of doing business list.”
The Union Minister of Railway, Commerce, and Industry has said that the nation has ranked 142 in ease of doing business in 2014 but has moved up to 63 in 2019.
“Probably no other country would have made such growth in this short period of time. We had picked up from a declining trend in 2014 and have reached 63 now. India is one of the countries that have been rising on the list for the past three years,” said Mr. Goyal.
Piyush Goyal further said that “it is also important that India has moved to 52nd rank from 108 earlier in insolvency list. We were also at 27th rank in construction permits list from 52 earlier.”
He went to Sweden, where he had participated in the 19th Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEC).