Steps taken by India to improve its EODB Index ranking on the 10 parameters:

♤ Speeding up process: such as company’s registration within 1-2 working days, issuing of PAN in a day, providing electricity connections in 15 days with online application etc.

♤ Digitisation: It makes various processes easier for businesses and their employees such as digitization of property records and land records, ShramSuvidha Portal for filling returns for ESIC and EPFO etc.

♤ Facilitating trade across borders: through ‘Indian Customs Single Window Project’ as well

as reducing the number of mandatory documents required by customs.

♤ Enacting or amending laws & rules: such as Enactment of the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015,the Insolvency and Bankruptcy Code, 2016 for speeding the exit procedure etc.

♤ Protecting minority investors through the Companies (Amendment) Act, 2015.

Though India has performed well on parameters like getting electricity, getting credit and protecting minority investors, on some other parameters like construction permits, resolving insolvency, paying taxes, enforcing contracts etc. it has performed poorly. However, the government has plotted an eight-point strategy and firmed up a 295-point reform agenda for states to improve India’s ranking.