India climbed 14 rungs in the World Bank’s Ease of Doing Business 2020 survey to stand at 63, among 190 countries, making it the one of world’s top 10 most improved countries for the third consecutive time.
The sharp rise in the ranking underscores the reformist credentials of the Narendra Modi-led National Democratic Alliance (NDA) government and may help the country lure multinational companies, looking at alternatives to China for investment amid Beijing’s trade war with the US.
Last year, India jumped 23 places to reach 77th position. In five years of the Modi government, India’s ranking has improved 79 places – to 63 in 2019 from 142 in 2014 – a record for a major economy.
The World Bank said India conducted four reforms in the 12-month period to May 1. “Among other improvements, India made the process of obtaining a building permit more efficient. Obtaining all permits and authorizations to build a warehouse now costs 4% of the warehouse value, down from 5.7% the previous year. In addition, authorities enhanced building quality control in Delhi by strengthening professional certification requirements. Importing and exporting also became easier for companies with the creation of a single electronic platform for trade stakeholders, upgrades to port infrastructure and improvements to electronic submission of documents,” it added.
India saw the biggest jump in ranking in “resolving insolvency” category, to 52nd rank from 108th, on the back of implementation of the Insolvency and Bankruptcy Code, while its ranking improved substantially in Dealing with Construction Permits (to 27th from 52nd) and “Trading across Borders” (to 68th from 80th). Click to read more.
The first Oklahoma Annual Investors Conference will be held Thursday, November 7 at the Colcord Hotel in Oklahoma City. The conference will connect the financial ecosystem by welcoming institutional investors, fund managers and prominent public figures from across the world to participate in a full day of panel discussions, keynote presentations and networking opportunities. “Financial services conferences are important for the development of the economy. They allow key-players in our industry to spend time together in the same room, which lays the groundwork for immense growth across multiple sectors,” says VIKASA Capital CEO and Founder, Roshan Pujari. “VIKASA is excited to support this endeavor and act as a catalyst for growth in our state and across the region.”
Panel discussions will cover globally trending business topics. The conference will provide a platform for attendees to engage in relevant conversations with a global perspective, furthering financial goals across a variety of industries.
Opening the conference will be former Oklahoma City Mayor, Mick Cornett, the first mayor in the city’s history to be elected to a 4th term. “Having worked to facilitate the exponential growth of our city during my tenure as Mayor, I extend a warm Oklahoma welcome to the panelists and attendees and am pleased to see this conference take place in Oklahoma City,” says Cornett, “this event will amplify the valuable network of investors, which will ultimately play a key role in the development of our communities at large.” Click here to read more.
On September 26th, the U.S. India Strategic Partnership Forum hosted an intimate roundtable with the Honorable Minister of Commerce, Shri Piyush Goyal. VIKASA Capital was fortunate to have both Chris Luzine, COO & Manish Singla, Head of Business Development attend the gathering. In attendance were senior global policy & affairs representatives from firms such as Walmart, Amazon, AIG, Herbalife, Gilead Science and Mastercard. It was a rather engaging discussion on the subject of U.S. & India trade relations.
Minister Goyal received feedback from each of the attendees and addressed where he saw both short-term and long-term opportunities for improved relationship of what is view as an otherwise strong bond between two major democracies. While the content of the discussions held in the closed-door meeting were requested to remain confidential, VIKASA had an opportunity to present feedback on the ease of doing business in India and the support for non-resident Indians living in the U.S. and elsewhere to efficiently invest back into the country of India. VIKASA will continue to have positive engagement with the Minister of Commerce, his office and other government officials.