Click to play videoNew Delhi: India has been rated the top reformer worldwide in trading across borders this year. The World Bank's "Doing Business Report" released on Wednesday says India is leading regulatory reforms in south Asia.
India is setting the standard for regulatory reform in South Asia - says the World Bank's "Doing Business Report - 2008. The report is based on the time and cost needed to meet government requirements in business start-up, operation, and closure.
According to the report India has climbed up 12 places and is now rated 120th on the ease of doing business, improving more than China, which rose by only nine places to 83rd.
This year Egypt tops the worldwide list of reformers for making it easier to do business within its borders, while Singapore continues to be the easiest country to business in worldwide.
India lost out for its complex taxation methods and for being the second worst country in world to resolve a legal commercial battle.
The report shows a large discrepancy in the ratings for doing business in our cities, rating Hyderabad the easiest and Ranchi the most difficult.
In fact the difference was so stark that if only the scores of the best cities were used India would rise 55 places in the country rankings.
The Indian government reportedly is using this information to plan further reform.
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