“Want India to break into top 50 nations on ease of doing business”: PM Modi

TIL Desk/National/New Delhi/ Prime Minister Narendra Modi on Monday set an ambitious target of India breaking into top 50 nations on the World Bank’s ease of doing business ranking and said efforts are on to nearly double the size of country’s economy to USD 5 trillion.

In his opening remarks at a meeting called on ease of doing business ranking with the Indian industry, PM Modi said the era of policy paralysis has ended and his government was giving policy-based governance that has helped catapult the country from 142nd rank among 190 nations on the World Bank’s ease of doing business ranking in 2014 to 77th position this year.

Reforms will continue and procedures would be further eased to make it easier for companies to do business in the country, he said adding efforts are on to increase the size of the economy to USD 5 trillion. PM Modi said it is an outcome of India’s consistent reforms trajectory that the country’s position is getting credence globally and is being recognised by international bodies like the IMF, World Economic Forum and UNCTAD.