BACKGROUND
In 2014, the Government of India launched 'Make in
India', a campaign aimed at transforming India into a
manufacturing hub and promoting innovation. In line with this
objective, the Government has taken various measures to minimize
bureaucratic hurdles to improve the ease of doing business in
India. These measures have led to a significant improvement in
India's rankings in the ease of doing business index published
by the World Bank. In 2014, India was ranked at 143 among 193
countries. Currently, India ranks at the 63rd position in the
index. Last year, the Union Budget 2023-24 highlighted that to
simplify the legal and regulatory framework for businesses, more
than 39,000 compliances have been reduced and more than 3,400 legal
provisions have been decriminalized. This is supplemented by
various initiatives such as the 'Start-up India' campaigns
launched by the Government to promote entrepreneurship.
