India climbs 25 places in a global competitiveness ranking
India climbed 25 places in a global competitiveness ranking, with the improvement attributed to a series of domestic economic reforms. These include the rollout of the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC), along with improvements in the business environment and trade-facilitation measures that have reduced market distortions.
Nabka Insight
India's jump in a global competitiveness ranking on reform momentum — an economy question.
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- India rose 25 places in a global competitiveness ranking
- Credited to reforms such as GST and the IBC
- Also better business environment and trade facilitation
- Reforms cited as reducing market distortions
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