Repeating the success of last year, India on Wednesday jumped 23 places to rank at 77 in 2019 World Bank (WB) ease of doing business ranking (DBR).

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Last year, India ranked 100, up 30 places from the year before last. Between 2014 and 2018, India jumped 65 places and 53 in the last two years.

Every year, the World Bank assesses 190 countries on various parameters to determine how easy it is for businesses to operate in these countries. The DBR ranks countries on the basis of Distance to Frontier (DTF), a score that shows the gap of an economy to the global best practices. This year, India's DTF score improved to 67.23 from 60.70 in the previous year.

In its annual report 'Doing Business' 2019 report, World Bank said India improved on six of the 10 parameters relating to starting and doing business in a country.

These parameters include ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency.

"The most dramatic improvements have been registered in the indicators related to construction permits, and trading across borders. In grant of construction permits, India's rank improved from 181 in 2017 to 52 in 2018. In trading across borders, India's rank improved by 66 points moving from 146 in 2017 to 80 in 2018," the department of industrial policy and promotion (DIPP), in a statement said.

World Bank further said that permits needed by a business to start operations in New Delhi dropped to 11 from 20, while those in Mumbai need 10 permits as against 12 a year ago.

The time taken to set up a business in New Delhi and Mumbai too reduced to 16 days and 17 days from 30 days and 29.5 days, respectively.

"The significant improvement is credited to strong commitment of the government to carry out comprehensive and complex reforms, supported by a bureaucracy which has changed its mindset from a regulator to a facilitator," DIPP said.

New Zealand topped the list of 190 countries in ease of doing business, followed by Singapore, Denmark, and Hong Kong.

The United States is placed eight and China has been ranked 46th. Neighbouring Pakistan is placed at 136.

First Published:Oct 31, 2018 6:37 PM IST