India is improving significantly in Global Indexes: PHD Chamber

Indian economy is not only showing its growth resilience but improving significantly in the lead global indexes, said Mr. Gopal Jiwarajka, President, PHD Chamber of Commerce and Industry.

India has improved significantly higher than the BRICS economies in Global Competitiveness Index from 55th to 39th rank, Global Innovation Index from 81st to 66th rank, Logistics Performance Index from 54th to 35th rank,  Global gender gap from 108th to 87th rank during the last one year from 2015-16, said Mr. Jiwarajka.

The rate of improvement is encouraging at 35% in Logistics Performance Index followed by 29% in Global Competitiveness Index and at 19% each in Global Innovation Index and Global gender gap during the year 2015-2016, he said.

However, the country needs to focus more on its ease of doing business where the improvement has been stagnated at 130th rank during the last one year. The parameters where rankings have deteriorated and urgent improvement is needed are construction permits, getting credit, protecting investors, paying taxes and trading across borders. The other parameters where ranking has been stagnant and needs further improvement are enforcing contracts, starting business, registering property and resolving insolvency, he added

Also, we need to improve our ranking in World Happiness Index which is surprisingly very low at 122 out of 155 countries. Improvement in the work environment supported by state of the art social infrastructure including better health facilities, employment oriented education and skill development would go a long way to improve our happiness index. 

Going ahead, we look forward to significant improvements in the Global Indexes to continue as the country has lot of scope and potential to further improve its ranking owing to the number of reforms taken by our Government, said Mr. Gopal Jiwarajka.