The progress of ‘Make in India’ in particular and the manufacturing sector in general is dependent on the business sentiments prevailing in India, making the EODB ranking important for India.
Ease of doing business (EODB) is an index published by the World Bank in 2003. It is an aggregate figure that includes different parameters which define the ease of doing business in a country.
For each of the indicators that form a part of the statistic ‘Ease of doing business,’ a distance to frontier score is computed and all the scores are aggregated.
The aggregated score becomes the index, which provides a comparison of 189 countries in terms of promoting business attractiveness and investment opportunities.
Indicators for which distance to frontier is computed include construction permits, registration, getting credit, tax payment mechanism etc. EODB provides a reality check of the business environment in India, with respect to the world.
The progress of ‘Make in India’ in particular and the manufacturing sector in general is dependent on the business sentiments prevailing in India, making the EODB ranking important for India.
India aspires to be among the superpowers of the world by 2050 and has a unique strength of the 3 Ds – Demand, Demography and Democracy. It is important to create an employment generating model of growth.
The manufac-turing sector with its high employment elasticity has potential to create employment, absorbing the disguised labour from agriculture and generating new opportunities for the youth.
From the Book – ‘ Know Everything about Corporate Social Responsibility ‘
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(India CSR)
