Economy

Ease of doing business: Critical to bring in further reforms at a much faster pace, says Adi Godrej 

Our Bureau Mumbai | Updated on October 24, 2019

Adi Godrej, Chairman, Godrej Group   -  File photo

Adi Godrej on Thursday said that the improvement in India's rankings in the ease of doing business index should prompt the Central Government to bring in further reforms.  

“It is fantastic that India has made strong strides in improving the ease of doing business – from Rank 130 in 2016 to 63 in the recently released ranking. To be amongst the top 10 improvers for the third year in a row is commendable and speaks volumes about the effort that the Government is putting in to unshackle the economy," he said.

"It will be critical to ramp up this momentum and bring in further reforms at a much faster pace, to bounce back from the recent slowdown and march ahead to realise our ambition of becoming a $5 trillion economy," Godrej added. Chandrajit Banerjee, DG, CII, said India has achieved a remarkable feat with the 79 ranks improvement in 5 years in the Doing Business Ranking.

"The reform initiatives aimed at digitising, streamlining and rationalizing regulatory compliances and procedures have imparted a huge fillip to the investor sentiment by ensuring faster processes, lower transaction costs and greater transparency," he said.

Published on October 24, 2019

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