The latest Ease of Doing Business report published by the World Bank has brought a pleasant surprise for India. Climbing 23 places in the ranking from the 100th place previously, we now stand at the 77th rank. The index evaluates 190 countries on 10 specific parameters, and India has improved its rank in 6 out of these indicators. This is a spectacular improvement and no doubt it will give a shot in the arm for the Modi government.

Now, let's look at the details. India improved its rank in six out of 10 indicators including those related to construction permits, trading across borders, starting a business, getting credit, getting electricity and enforcing contracts. The rank improved, in construction permits, from 181 to 52; in trading across borders from 146 to 80; in starting a business from 156 to 137; in getting credit from 29 to 22; in getting electricity from 29 to 24; and in enforcing contracts from 164 to 163.

The World Bank report also reveals some more positive aspects about ease of doing business in India. It shows that India and China are the two large economies which are among the 10 biggest reformers among 190 countries. Besides, India is now on the top 10 list for two years in a row. India is also the only South Asian country to join the list of the 10 top improvers. It is also noteworthy that the latest report has not taken the GST into account, raising hope that our ranking may improve much further next year.

The government is more than happy to see this improvement. Modi said it is a matter of pride. The World Bank President recently congratulated him for this "historic rise". But there is still scope of improvement. For instance, we are placed at 137th when it comes to starting a business and at 166th in registration of properties. Additionally, from next year, the World Bank is going to add another indicator to assess public procurement system of the governments. So, reforms must go on if we want to be amongst the top 50 countries.

I invite your opinions.