Skip to main content

India ranks 131st in procedures, 110th in time taken to start business among 137 countries: WEF report

India's ranking among "competing" nations
By Rajiv Shah
Even as pointing out that India has slipped by one rank in the world competitive ranking from 39th last year to 40th this year, after massive upward swing over two previous years, the high-pofile Geneva-based World Economic Forum (WEF) in its new report has found India's ranking extremely poor in providing business environment to investors.
Thus, the "Global Competitiveness Report 2017-18", ranks India 98th in intensity of local competition among 137 countries it analyses, 124th in total tax rate, 131st in number of procedures to start business, 110th in time taken to start business, 124th in trade tariffs, 118th in imports as percentage of gross domestic product (GDP), 104th in flexibility of wage determination, 129th in female participation in labour force, 111th in exports as percentage of GDP, and so on.
Taking into account India's poor social sector, suggesting, it comes in the way in creating robust competitive environment, the report ranks India 91st in health, even as revealing that the country ranks 109th in “business impact of tuberculosis”, and 113rd in “business impact of HIV/AIDS."
India's ranking over the years, in selected sectors
One of the world’s most high-profile elite clubs that seeks to “improve” the state of the world by “engaging” business, political, academic, and other leaders across the globe, WEF, however, does not give much significance to one point deceleration in India’s rating, which was 39th in 2016-17, saying it suggests India has “stabilized” after “its big leap forward of the previous two years”.
Even then, the report notices several “problem areas”, including corruption, access to financing, tax rates, inadequate supply of infrastructure, poor work ethic in national labour force, inadequately educated workforce, and so on. It underlines, “The private sector still considers corruption to be the most problematic factor for doing business in India.”
Among the several areas in which India has improved it's score, says the report, include infrastructure (66th, up two), higher education and training (75th, up six), and technological readiness (107th, up three)."
India's problematic areas on a scale of 12
Prepared by Prof Klaus Schwab, WEF editor, and Prof Xavier Sala-i-Martín of the Columbia University, who is chief advisor, the report states, while India, along with China and Indonesia, is “becoming a centre for innovation, "catching up with advanced economies”, there is still a need for “increasing the readiness of their people and firms to adopt new technology, which is necessary to widely spread innovation’s potential economic and societal benefits.”
WEF says, “Asian economies were less exposed to the global financial crisis, but they are facing new problems of their own”, underlining, “Amid a private-sector credit boom in India, the proportion of loans classed as non-performing went from 4 percent to 9 percent in two years.”
Among India's growing centres of innovations, the report says, "Three Indian locations appear in the top 100: Bengaluru at 43rd (with patent activity focused on computer technology), Mumbai at 95th, and Pune at 96th (both registering among the most patents in organic fine chemistry)." However, they are far behind Shenzen–Hong Kong, ranking 2nd place, and Beijing 7th, it adds.
The report further says that the level of technological readiness of individuals and firms in India, as in China and Indonesia, remains "relatively low", suggesting that the benefits of these innovative activities are "not widely shared" and "societal gains from innovation breakthroughs do not happen automatically: they need complementary efforts to ensure that more people and firms have the means to access and use new technologies."

Comments

TRENDING

#MeToo moment in Hyderabad Urdu varsity? Two girl students seek action against authorities

Counterview Desk
Has the #MeToo movement reached Maulana Azad National Urdu University (MAANU)? It would seem so if a recent letter by newly-appointed chancellor Firoz Bakht Ahmed to MAANU vice-chancellor Dr Aslam Parvaiz is any indication. Seeking reinstatement of two girl victims of “sexual harassment and humiliation”, the letter specifically names head of the department of the Media Centre for Journalism, suspecting, the problem could be much deeper.
Text of the letter: It is a matter of utmost perturbation for me to receive the two representations from the girls studying in the MCJ (Media Center for Journalism) regarding their sexual and subsequently, mental and social harassment at the hands of Prof Ehtesham Ahmad Khan, the HOD, MCJ.
We do not know, how many girls have been exploited by him and preferred to be silent for saving their family’s honour; however, there are two brave girls who stood to the depraved advances and misuse by Prof Ehtesham and came up with written complai…

"Ineligible" funding of Sardar Statue in Gujarat: CAG tells Central PSUs, it's not a heritage CSR activity

By Our Representative
The Comptroller and Auditor General (CAG) of India, in its recent report on Central Public Sector Enterprises (CPSE), has qualified public sector undertakings’ (PSUs') funding the 182-metre world’s highest Sardar Statue, currently being constructed in the Narmada river downstream of the Sardar Sarovar dam as an “ineligible” corporate social responsibility (CSR) activity.

29th "NRC-related" suicide in Assam, as Nirod Baran Das takes his life by hanging on a fan

By Our Representative
Reporting 29th case of National Register of Citizens (NRC)-driven suicide in Assam, one of India’s human rights campaign sites has said that, on October 20, tragedy struck Kharupetia town in Darrang district of Assam, when a retired school teacher and advocate Nirod Baran Das “took his life by hanging himself to a fan in his home.” The report adds, “The NRC process has so far claimed over two dozen such lives in the past four months alone.”

"Highly irregular" for PSUs to fund Sardar Statue under Corporate Social Responsibility

Counterview Desk
In a letter to I Srinivas, secretary, Ministry of Corporate Affairs, Government of India, former secretary (economic affairs), Ministry of Finance, EAS Sarma, has raised questions on the funding of the Sardar Patel statue in South Gujarat by Central Public Sector Undertaking (CPSUs) relying on the Comptroller and Auditor General report (No 18/2018).

Murder of Tamil Nadu teenage Dalit girl: "Stoic silence" despite #MeToo movement

Counterview Desk
Brinelle D'souza, who is with the Centre for Health and Mental Health, School of Social Work, Tata Institute of Social Sciences, Mumbai, has prepared a strong statement to protest the brutal murder of 13-year-old Rajalakshmi. "Other than a few media reports, this gruesome killing has not caught national attention despite a very vibrant #MeToo campaign currently underway", regrets D'souza.

World Bank clarifies: Its 26th rank to India not for universal access to power but for ease of doing business

By Our Representative
In a major embarrassment to the Government of India, the World Bank has reportedly clarified that it has not ranked India 26th out of 130 countries for providing power to its population. The top international banker’s clarification comes following Union Power Minister Piyush Goyal’s claim that India has “improved to 26 position from 99” in access to electricity in just one year.

Preventing childhood deaths: India performs worse than Bangladesh, "equals" Pakistan

By Rajiv Shah
A just-released study, “The Pneumonia and Diarrhea Progress Report 2018”, prepared by the International Vaccine Access Centre (IVAC) at the Johns Hopkins Bloomberg School of Public Health, has identified India among 15 other countries which are still far off the mark in achieving the targets of the Global Action Plan for the Prevention of Pneumonia and Diarrhea (GAPPD).

Bank account frozen, raid on Amnesty office: Govt of India "treating" human rights NGOs like criminal enterprises

By Abhirr VP*
Amnesty India’s bank accounts have been frozen by the Enforcement Directorate, effectively stopping its work. Amnesty India is thus the latest target of the government’s assault on civil society in the country. The accounts of Greenpeace India were frozen earlier this month.

60 ex-civil servants seek release of CAG reports on Rafale, demonetisation before 2019 polls

Counterview Desk
As many as 60 retired civil servants have asked President Ram Nath Kovind to expedite the release of Comptroller and Auditor General (CAG) reports on demonetisation and the Rafale deal. The letter, signed mainly by former Indian Administrative Service, Indian Foreign Service and Indian Police Service officers, regrets that the status of the audit is "unclear”. According to them, “An impression is gaining ground that CAG is deliberately delaying its audit reports on demonetisation and Rafale deal till after the May 2019 elections so as not to embarrass the present government”.

Govt of India "tarnishing" NGO reputation, dossier leaked selectively: Amnesty

Counterview Desk
Amnesty International India has said that a deliberate attempt is being made to tarnish its reputation by leaking a dossier, supposedly made by investigating agencies, to media without giving it access to any such information. The high profile NGO’s claim follows a Times Now report about proceedings launched by investigative agencies, including Enforcement Directorate (ED) against the rights body for “violations” of rules pertaining to overseas donations.