New Delhi, July 30: India has made significant progress in building a more competitive economy, improving its global ranking from 82nd to 57th in pro-competitive reforms between 2010 and 2023, according to a report by the Competere Foundation.
The report highlights how key economic reforms, including GST, the Insolvency and Bankruptcy Code (IBC), improved regulations, and trade facilitation measures, have helped reduce market barriers and create a stronger business environment.
The study evaluates India’s progress in areas such as property rights, domestic competition, and international market participation. It also highlights improvements in investment conditions, digital markets, and policies aimed at promoting fair competition.
The report was launched at a discussion on India’s reform journey, bringing together policymakers, industry experts, legal professionals, and academics to explore the next steps for strengthening growth and global competitiveness.
Experts emphasised the need for continued reforms, stronger competition policies, and a consumer-focused approach to help India maintain its growth momentum.
India’s improved ranking reflects the country’s ongoing efforts to create a more transparent, competitive, and globally connected economy.
