India is actively preparing for the World Bank’s upcoming ‘B-Ready’ report, hoping to improve its standing after the discontinuation of the previous ‘Doing Business’ report. The new report aims to provide a comprehensive quantitative assessment of the business environment and investment climate in various economies worldwide.
The Indian government, through its Department of Financial Services (DFS) and the Department for Promotion of Industry and Internal Trade (DPIIT), will be actively involved in coordinating and overseeing the Indian data collection for the report. The process is expected to begin by the end of September.
The DPIIT, acting as the nodal agency for India, has appointed KPMG as a consultant to manage the project. This is the first time a consultancy has been engaged for this purpose. The B-Ready report will be a comprehensive evaluation of the business environment, considering various aspects like business entry, location, utility services, labor, financial services, international trade, taxation, dispute resolution, market competition, and business insolvency.
The World Bank is scheduled to conduct the survey starting in late September 2024, with the publication of the India business environment report anticipated in 2025-2026. The new report will take a broader approach compared to the previous ‘Doing Business’ report, encompassing the private sector as a whole and considering benefits to various stakeholders, including workers and the environment.
Experts highlight the importance of such assessments, recognizing that they allow countries to identify areas for improvement and track progress. India’s experience with international rating agencies has been mixed, but the government acknowledges the value of such assessments in understanding its strengths and weaknesses.
The World Bank’s decision to discontinue the ‘Doing Business’ report followed a probe into data irregularities and ethical concerns. The new B-Ready report is intended to address these issues and provide a more robust and reliable assessment of the business environment in different countries.
