PIB+BACKGROUND: Grand Challenge
- Prime Minister Launches Ease of Doing Business Grand Challenge (Ministry of Commerce & Industry)
The PM launched a Grand Challenge on resolving seven identified Ease of Doing Business problems by using cutting-edge technologies.
The Government of India aims to make India one of the easiest places to conduct business in the world.
The objective is to tap the potential of young Indians, startups and other private enterprises to provide solutions to complex problems using current technology.
This challenge is aimed at attracting innovation ideas on Artificial Intelligence (AI), Internet of Things (IoT), Big Data Analytics, Blockchain and other cutting edge technology to reform government processes.
The platform for this grand challenge will be on Start Up India portal.
Mr. Hartwig Schafer, Vice President, South Africa of the World Bank Group mentioned that it gets tougher to improve ranks as a country moves higher up in the ranking and expressed his belief that India will continue the momentum it has gained over the last four years in its efforts in improving Ease of Doing Business.
According to the World Bank’s Doing Business Report (DBR, 2019):
India improved its ranking from 100th position in 2017 to 77th position in 2018 (a jump of 23 positions) among 190 countries.
Also India has improved its rank by 53 positions in the last two years and 65 positions in the last four years [2014 – 2018].
World Bank’s Ease of Doing Business Index ranks 190 countries based on 10 parameters, including starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts, and resolving insolvency.