India's Business Reforms Propel Ease of Doing Business Rankings

India has significantly improved its standing in global Ease of Doing Business (EoDB) rankings, having ascended by 79 places in the last five years to rank 63rd in 2019. The World Bank launched the B-Ready Assessment in 2024 to further evaluate business environments in 180 countries across ten economic metrics. India has been actively fostering a conducive business climate through the Business Reforms Action Plan (BRAP), designed to streamline regulations, digitize processes, and reduce compliance burdens. Key initiatives since 2020 have led to a reduction of over 47,000 regulatory compliances, with significant decriminalization and digitization efforts embedded in the Jan Vishwas Act 2023. The Government's BRAP 2024 continues to bolster these reforms, aiming to attract both domestic and foreign investments.

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