With an aim to promote competitiveness among states to attract investments and to bring India into the top 50 in terms of ease of doing business in the next three years, the Department of Industrial Policy and Promotion (DIPP) with the help of World Bank this week is expected to release the report of the ranking of states on ease of doing business. Improved ranking will help in attracting both domestic and foreign investments.
Under this, DIPP had circulated a set of 285 questions to all states which have already been responded by the State Governments. Further, the ranking will be based on 98 parameters with the exception of two parameters (getting credit and protecting minority investors) as India does not feature in top 100 in the remaining parameters. Although central government departments are taking steps to improve India's ranking in ease of doing, about 70% work happens in the states. So, DIPP has to take measures in this direction.
Presently, India is ranked 142nd among 189 nations in the World Bank's 'Ease of Doing Business 2015'. FDI in the country grew by 31% to $9.50 billion, during April-June period of the current fiscal compared to $7.23 billion in the same period last fiscal.