India moved up only one position in the International Finance Corporation's (IFC) ease of doing business rankings. Improving India's ranking in the ease of doing business has been identified as a key priority by the Modi government.
The Doing Business 2017 report released late on Tuesday showed that India was placed 130th among 190 countries that had been surveyed for the annual rankings, with Russia, Bhutan, South Africa, China, Nepal, Sri Lanka and Brazil ranked higher.
While the government's focus on improving India's ranking and an overhaul of the Companies Act came in for praise in the report, labour laws were flagged for creating economic distortions even as IFC took note of the plan to overhaul the regime.
India's overall score improved marginally to 55.27 as it climbed up the rankings for providing electricity connections, enforcing contracts through commercial divisions in Bombay and Delhi high courts, easier rules for trading across borders and making Employee's Social Insurance Corporation's payments.
Improving India's ranking in the ease of doing business survey has been identified as a key priority by the Modi government. The government is keen to improve attractiveness as an investment destination and has undertaken several measures to make it easier to do business in the country.