The Cotton Textiles Export Promotion Council (TEXPROCIL) has hailed India’s jump in the World Bank’s Ease of Doing Business rankings.
Notably, India’s rank in the Ease of Doing Business 2019 survey climbed 23 places to 77 among 190 countries surveyed, making it the only country to rank among the top 10 improvers for the second consecutive year.
“This is a huge achievement for our country of which we are all proud of,” said TEXPROCIL chairman Ujwal Lahoti in a press release.
“Starting a business in India has been made easier through consolidation of multiple application forms and introduction of a goods and services tax (GST), while getting electricity was made faster and cheaper. Other reforms in India included strengthening access to credit as well as making it easier and faster to pay taxes and trade across borders,” the World Bank said.
Lahoti pointed out that for the textiles exporters, remarkable improvements are visible at the ports, customs, Regional offices of DGFT, EDI systems, etc. He also complimented Prime Minister Narendra Modi and the Government for taking all necessary steps on a war footing to ensure ease of doing business which has made the jump in rankings possible. He expressed confidence that India will be breaking into the top 50 in the World Bank rankings very soon. The biggest improvements have been in the indicators related to ‘construction permits’, in which India’s ranking improved by 129 points, and ‘trading across borders’, in which it rose by 66 points.