FDI in India increased even during the pandemic, the Union Finance Minister said after releasing the data.
New Delhi:
Andhra Pradesh, followed by Uttar Pradesh and Telangana, topped the national ranking of ease of doing business published today by the Department for the Promotion of Industry and Domestic Trade.
While Andhra Pradesh maintained its ace position for the third year in a row, Uttar Pradesh emerged as the best performing country in the northern region after climbing 10 places over its 2018 position, the ranking based on the implementation of the Business Reform Action for Atmanirbhar Bharat.
The national capital Delhi, at no. 12, climbed 12 places in last year’s rankings to become the best territory in the Union for doing business.
Madhya Pradesh is the best place to put your money in the western region, Jharkhand in the east, and Assam in the northeast. However, the state was ranked 20th on the overall list, followed by Jammu and Kashmir at 21st, Goa at 24th, Bihar at 26th, and Kerala at 28th. Tripura ranked last 36th.
Gujarat, consistently ranked the best in the last four rankings, came in at No. 10.
“India is seen as taking seriously the reform process it showed when foreign direct investment into the country increased even during the COVID-19 pandemic, amid what was called the world’s strictest blockade,” the said. Union Finance Minister Nirmala Sitharaman days after she called the pandemic an “act of God” that can cause the economy to contract.
Appreciating the effort made by the states, the Minister of Commerce and Industry Piyush Goyal, who also has the Railways portfolio, said that the exercise aims to promote competition between the states to improve the business climate to attract domestic and foreign investment. .
“It will also help the nation improve its ranking. The country is working on steps such as creating a one-stop-shop system for approvals and authorizations,” he added.
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