India ranked to the 134th spot in the ease of doing business list according to the annual Doing Business report released on 29 October 2013 by World Bank and International Finance Corporation (IFC).
In the Ease of Doing Business ranking of 189 countries India has dropped from 131 spot in 2013 to 134th spot in 2014.
Highlights of the report
• The top ten nations in the Ease of Doing Business ranking are Singapore (1), Hong Kong (2), New Zealand (3), United States (4), Denmark (5), Malaysia (6), Korea (7), Georgia (8), Norway (9) and the United Kingdom (10).
• Among BRICS grouping, Russia is placed at 92nd spot, Brazil is ranked 116, South Africa is ranked the 41st rank and China ranked at 96th position.
• India is also ranked lowest among the BRICS nations (Brazil, Russia, India, China and South Africa).
• Other neighbouring nations of India Nepal (105), Pakistan (110) and Bangladesh (130) are also ranked above India.
About the Ease of Doing Business ranking
• Countries are ranked on their ease of doing business from 1 to 189.
• A high ranking on the ease of doing business index means the regulatory environment is more conducive to the starting and operation of a local firm.
• This index averages the country's percentile rankings on 10 topics, made up of a variety of indicators, giving equal weight to each topic.
• The 10 topics includes starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. The employing workers indicators are not included in this year’s aggregate ease of doing business ranking.