India climbs 25 places in global competitiveness ranking as reforms reduce market distortions
India climbed 25 places in a global competitiveness ranking, with the improvement attributed to reforms that reduced market distortions. The gains followed a series of domestic economic reforms, including the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), and improvements in the business environment and trade-facilitation measures. The jump reflects strengthening institutional and regulatory competitiveness.
Nabka Insight
Ranking movements and the reforms credited for them are standard current-affairs fodder.
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- India rose 25 places in a global competitiveness ranking.
- Cited reforms: GST, IBC, and business-environment and trade-facilitation improvements.
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