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India once again makes remarkable progress in Ease of Doing Business, jumps 23 ranks

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India has improved its rank in six out of the 10 indicators and has moved closer to international best practices on seven out of 10 indicators.

India jumped 23 ranks from last year to get 77th rank in the World Bank’s latest Ease of Doing Business rankings, a news that is likely to bring cheer for the Narendra Modi-government in an election year.

The jump is significant, as it comes after last year’s 30-rung climb when India moved into the top 100 rankings among 190 countries.

The report also recognises India as one of the top 10 improvers in this year’s assessment, for the second successive time. India is the only large country this year to have achieved such a significant shift.

India has improved its rank by 53 positions in the last two years, and 65 positions in the last four years (2014-18).

When the NDA came to power in 2014, India stood 142nd in World Bank’s ‘Doing Business’ list.

“We have made progress in leaps and bounds, probably the most significant in the history of Ease of Doing Business,” Union Finance Minister Arun Jaitley said, underscoring that to make significant progress, one has to “literally crack the code” and work on the bottlenecks.

The latest jump comes in an election year, as the government is under opposition attack for the rise in petrol prices, the fall of the rupee and the differences with the Reserve Bank of India. Besides, the Congress has persistently pointed to what it calls the failure of PM Modi’s ‘Make in India’ initiative. Congress chief Rahul Gandhi has consistently attacked the government, saying instead of Make in India, “Everything is made in China”.

The improved ranking will boost the sentiment of Prime Minister Narendra Modi’s government ahead of the general election, at a time it’s facing flak for rising fuel prices and falling rupee. Last year, Finance Minister Arun Jaitley had said Modi wanted various ministries to target the top 50, which he thought was “doable”.

In this year’s assessment, on the “distance to frontier metric”, a measure to gauge how far an economy’s policies are from global best practices, India’s score improved to 67.23 from 60.76 last year.

This means last year India improved its business regulations in absolute terms – indicating that the country is continuing its steady shift towards global standards.

“India continued its reform agenda, implementing six reforms in the past year. India is now the region’s top-ranked economy,” the World Bank said, ahead of Bhutan (81) and Sri Lanka (100), Nepal (110), the Maldives (139), Pakistan (136) and Afghanistan (167) and Bangladesh (176).

India has improved its rank in six out of the 10 indicators and has moved closer to international best practices on seven out of 10 indicators.

The checklist includes ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency, reported news agency Press Trust of India.

The most dramatic improvements have been registered in the indicators related to ‘Construction Permits’ and ‘Trading Across Borders’.

In the ‘Grant of Construction Permits’ indicator, India’s ranking improved from 181 last year to 52 in this year’s report—a jump of 129 ranks in a single year.

In the ‘Trading Among Borders’ indicator, India’s rank improved by 66 positions, moving from 146 in 2017 to 80 in 2018.

India reduced the time and cost to export and import through various initiatives, including the implementation of electronic sealing of containers, the upgrading of port infrastructure and allowing electronic submission of supporting documents with digital signatures, the World Bank said.

The other improvements come through the GST, which wasn’t included in last year’s ranking, and the Insolvency and Bankruptcy Code (IBC). The GST made it easier to start businesses as it integrates multiple application forms into a single general incorporation form. World Bank said this speeds up the registration process.

India, the report said, has not only made paying taxes easier, but also made it less costly by reducing the corporate income tax rate and the employees’ provident funds scheme rate paid by the employer.

The amendements to the IBC also strengthened access to credit, the report said. “Secured creditors are now given absolute priority over other claims within insolvency proceedings.”

Marking areas where the country still needs to improve, Finance Minister Jaitley mentioned starting of business, in which the country ranked 137, paying taxes and enforcing of contracts, which he said “remains poor”.

Besides, in registering property, the country’s ranking fell to 166 from 92 when Modi took over, a report in BloombergQuint added. It takes over two months in India to register for property and the procedures end up costing almost 8 percent of the property value.

India’s efforts in protecting minority investors also stagnated. Its rank fell from fourth in the world to seventh, with no improvement in reforms. Similarly, in paying taxes, the ranking slipped by two places to 121 this year.

Enforcing contracts still remains a huge problem, with the country’s rank at 163. The World Bank report shows that it takes more than three years to enforce a contract and it ends up costing a third of the claim value itself.

In the World Bank Group’s annual ease of doing business rankings, the top 10 economies are New Zealand, Singapore and Denmark, which retain their first, second and third spots, respectively, for a second consecutive year, followed by Hong Kong SAR, China; Republic of Korea; Georgia; Norway; United States; United Kingdom and FYR Macedonia.

Latest business news

Alphabet’s $32 billion acquisition of Wiz marks biggest cybersecurity push

Alphabet has announced a $32 billion deal to acquire Wiz, reinforcing its cloud security offerings as it competes with AWS and Microsoft Azure.

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Alphabet to acquire Wiz for $32 billion to boost cloud security

Alphabet, the parent company of Google, has announced its largest acquisition to date with a $32 billion deal to buy cybersecurity startup Wiz. The move signals Alphabet’s aggressive expansion in cloud security as it competes with Amazon Web Services and Microsoft Azure in the cloud computing market.

A strategic investment in cybersecurity

The acquisition will integrate Wiz into Google Cloud, reinforcing its security capabilities to help businesses mitigate cyber risks. The deal, which follows Alphabet’s previously unsuccessful $23 billion bid, underscores the company’s commitment to securing a stronger foothold in the cloud security space.

Wiz, an Israel-based firm, provides security solutions that work across major cloud providers, including Amazon Web Services, Microsoft Azure, and Google Cloud. The company has gained significant traction, boasting clients such as Morgan Stanley, BMW, and LVMH.

Regulatory scrutiny and financial impact

Despite the high price tag, Alphabet appears confident in securing regulatory approval under the new U.S. administration, which has maintained a watchful eye on major tech mergers. Notably, the termination fee—over $3.2 billion—stands among the highest in M&A history, signaling both parties’ commitment to closing the deal.

Alphabet’s stock dipped nearly 3% following the announcement, reflecting investor concerns over its heavy spending, particularly in AI and cloud computing. The company may need external financing, given its cash reserves of approximately $23.47 billion as of December 31, 2024.

Growing importance of cybersecurity

The acquisition highlights the increasing demand for cybersecurity solutions, especially in light of last year’s global CrowdStrike outage that disrupted businesses worldwide. Analysts suggest that for Google Cloud to compete effectively with Microsoft Azure, it must offer a more comprehensive suite of security services.

Alphabet expects the deal to be finalized in 2026, pending regulatory approvals. Meanwhile, Wiz will continue providing its services across multiple cloud platforms, potentially alleviating antitrust concerns.

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Gadgets

Zepto launches quick delivery of iPhone, iPad, and Apple products in India

Zepto partners with Apple to provide 10-minute doorstep delivery of iPhones, iPads, AirPods, and more in select Indian locations, competing with Blinkit and Swiggy Instamart.

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Zepto now offers quick delivery of Apple products in India

Zepto, the quick commerce platform, has announced its partnership with Apple to offer doorstep delivery of iPhones, iPads, Apple Watches, AirPods, and other Apple accessories in India. The collaboration aims to provide instant access to premium Apple products, with deliveries promised in under 10 minutes.

Zepto expands Apple portfolio with latest devices

According to an official statement from Zepto, users in select locations can now order Apple’s recently launched iPhone 16E, AirPods 4, and the latest iPad models. The initiative aligns with the platform’s strategy to expand its electronics category, following its recent launch of quick deliveries for Vivo smartphones and Asus accessories in key Indian cities.

Speaking on the development, Abhimanyu Singh, Business Head of Electronics at Zepto, highlighted the growing demand for Apple products on the platform. He revealed that over one million users searched for Apple items in the past month, with a 35% month-on-month increase in searches.

Discounts, EMI offers, and availability

Zepto is offering various incentives, including launch discounts, no-cost EMI plans, and special offers on bank card payments. Customers can also avail of coupon-based and mobile wallet discounts to reduce costs further.

While the service is currently limited to select cities, it positions Zepto in direct competition with Blinkit and Swiggy Instamart, which also offer quick delivery of Apple products. Additionally, BigBasket has begun delivering iPhone 16 and iPhone 16 Plus in partnership with Croma Electronics in cities like Bengaluru, Delhi NCR, and Mumbai.

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Gadgets

Zepto to deliver Apple products within 10 minutes

This announcement follows closely on the heels of competitor Blinkit, which recently began its rapid delivery service for Apple products, including MacBook Airs, iPads, and AirPods, in select metropolitan areas across India.

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Zepto, the innovative quick commerce platform, has taken a significant leap forward by unveiling a comprehensive selection of Apple products in its electronics category. With the addition of renowned items such as iPhones, iPads, Apple Watches, AirPods, and an array of accessories, Zepto is poised to enhance its competitiveness in the premium electronics sector. This strategic move expands its offerings to over 5,000 stock-keeping units (SKUs) available from diverse sellers on the platform.

This announcement follows closely on the heels of competitor Blinkit, which recently began its rapid delivery service for Apple products, including MacBook Airs, iPads, and AirPods, in select metropolitan areas across India.

In response to the escalating demand for immediate access to high-quality gadgets, Zepto aims to position itself as a go-to destination for consumers seeking high-end electronics. The company has reported a notable 35% month-over-month surge in the number of users actively searching for Apple products.

“Our partnership with Apple allows us to offer a broad array of cutting-edge technology, making it more accessible and revolutionizing the buying experience for premium gadgets,” said Abhimanyu Singh, business head of the electronics division at Zepto. He highlighted the increasing consumer interest, stating, “In just the past month, over a million users have searched for Apple devices—whether it’s the latest iPhone 16E, AirPods 4, or iPads—indicating a strong appetite for quick access to premium tech.”

Singh added that this expansion is not just about adding products; it is about enhancing the overall shopping experience. “With our sellers bolstering their collaboration with Apple, we’re redefining what it means to shop for electronics, ensuring the process is faster, more convenient, and seamless. We are grateful to our sellers for making this possible,” he noted.

Overall, Zepto proudly showcases a diverse catalogue of more than 45,000 products, spanning categories such as groceries, electronics, beauty items, and toys, serving customers across nearly 50 cities in India. With its commitment to excellence, Zepto continues to set new standards for quick commerce in the high-tech market.

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