Ease of Doing Business : India Jumps 14 Places to Rank 63, Among the 10 Most Improved Economies

As per the The World Bank Doing Business Report (DBR 2020), India has recorded a jump of 14 positions against its rank of 77 in 2019 to be placed now at 63rd rank among 190 countries. As a result of continued efforts by the Government, India has improved its rank by 79 positions in the last five years [2014-19].

Minister Piyush Goyal invites Swedish Business Community to partner with Indian Industries at the 19th Indo - Swedish JCEC in Stockholm, Sweden

While addressing the Joint Commission for Economic, Industrial and Scientific Cooperation (JCEC), Union Minister of Commerce & Industry Piyush Goyal gave the overview of all the ease of doing business measures including structural and procedural reforms undertaken by the Indian Government at the Centre and State level. He further proposed the setting up of an Investment Enclave for Swedish investors in India with ready plug and play infrastructure.

India retains world's fastest-growing rank, tying with China: IMF

As per the IMF's World Economic Outlook (WEO), India retains its rank as the world's fastest-growing major economy, tying with China, with a projected growth rate of 6.1% for the current fiscal year. It further stated that India's economy to pick up and grow by 7% in the 2020 fiscal year.

Govt. to protect the interest of industry before entering into any agreement: Piyush Goyal on RCEP

Commerce & Industry Minister Piyush Goyal said that the government will protect the interest of domestic industry and the nation, before entering into the proposed mega free-trade pact RCEP, which is in the last phase of negotiations. There is also a plan for an auto-trigger mechanism, wherein India will have the option to increase customs duties if there would be a sudden surge in imports of a specific product, particularly from China, to protect the domestic industry.

GeM Partners with Federal Bank for payment related services

The Government e-Marketplace (GeM) signed an MoU with Federal Bank to offer a number of services including transfer of funds through GeM Pool Accounts (GPA), advising of Performance Bank Guarantees (e-PBG) and Earnest Money Deposit (EMD) to the registered users on the portal. The MoU will facilitate a cashless- paperless and transparent payment system on the portal and would create an efficient procurement system for government entities.