India climbs 25 places in global competitiveness ranking as reforms reduce market distortions
India climbed 25 places in a global competitiveness ranking, an improvement attributed to reforms that reduced market distortions. The gains follow 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.
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An improvement in India's global competitiveness standing, linked to named reforms — useful for prelims linkage questions.
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- India rose 25 places in the global competitiveness ranking.
- Improvement credited to reduced market distortions.
- Reforms cited: GST, IBC, business-environment and trade-facilitation measures.
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