Ease of doing biz: India ranked 4th in protecting minority investors interest

October 31, 2017 22:16

With implementation of a series of reforms including enactment of Insolvency and Bankruptcy Code, India has climbed to 4th position in protecting interest of minority investors, as per the latest 'Ease of Doing Business Report' of the World Bank.

This is the first time that India has figured in the top five nations in one of the parameters for determining 'ease of doing business'.

"India performs well in the areas of protecting minority investors, getting credit and getting electricity. The country's corporate law and securities regulations have been recognised as highly advanced, placing India in the fourth place in the global ranking in protecting minority investors," the report said.

The World Bank latest 'Doing Business 2018: Reforming to Create Jobs' said that in the last one year, the country did remarkably well in record eight of the 10 areas of reforms.

The report is based on the reforms implemented in the past year (June 2, 2016-June 1, 2017) in Delhi and Mumbai, the two cities covered by the report.

Starting a business was made faster by merging the applications for the Permanent Account Number (PAN) and the Tax Account Number (TAN) and by improving the online application system in New Delhi.

Mumbai also made starting a business faster by merging the applications for value added tax and the Profession Tax.

Secondly, there was reduction in the number of procedures and time required to obtain a building permit by implementing an online system that has streamlined the process at the Municipality of New Delhi and Municipality of Greater Mumbai. -- PTI

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