India climbs 25 places in global competitiveness ranking as reforms reduce market distortions
India climbed 25 places in a global competitiveness ranking, an improvement credited to reforms that reduced market distortions. The gains followed a series of domestic economic measures, including the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), and improvements to the business environment and trade facilitation, reflecting cumulative structural reform.
Nabka Insight
India's movement in global rankings and the reforms behind it are frequently tested economy items.
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- India rose 25 places in a global competitiveness ranking.
- The improvement was attributed to reforms including GST and the Insolvency and Bankruptcy Code (IBC).
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