Last week delivered a major shot in the arm to the profile of the Indian economy when in the World Bank ranking on Ease of Doing Business, India was positioned at 77th rank – a huge leap of 23 ranks from 100 in 2017-18. While there have been host of parameters on which India is reported to have performed well, one key indice where the country has given a dazzling performance is improvement in ‘Trading across borders’. On this performance indice, India’s rank has shot up from 146 to 80.
Upgradation of port infrastructure, improvement of processes, and digitization of document submission has substantially reduced Export/Import cargo handling time at ports which has significantly contributed towards improving the trading across border parameter and India’s impressive growth in the World Bank’s report. Responding to the report, Nitin Gadkari, Union Minister for Shipping, Road Transport & Highways and Water Resources, commented, “The focus has been on development of port infrastructure and capacity enhancement, improvement in last mile connectivity and development of multi-modal hubs to promote EXIM while reducing logistics cost and time. Under Sagarmala, port-led-development initiative of the Govt, 266 port modernization projects with an investment of more than Rs 1.45 lakh Crore has been identified for implementation over next 10 years.”