India climbs 25 places in global competitiveness ranking
India climbed 25 places in a global competitiveness ranking, helped by reforms that reduced market distortions. The improvement followed a series of domestic economic reforms, including the Goods and Services Tax, the Insolvency and Bankruptcy Code, and measures to improve the business environment and trade facilitation. The gain reflects steady progress in easing regulatory and market frictions.
Nabka Insight
Movement in global rankings and the reforms credited for it are common economy questions.
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- India rose 25 places in the global competitiveness ranking.
- Credited reforms: GST, IBC, business-environment and trade-facilitation steps.
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