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2014-07-25

World Bank chief Jim Yong Kim lauds Gujarat growth model

Lauding the Gujarat growth model, World Bank Chief Jim Yong Kim said India\\\'s business standing will jump 50 places if the ranking is done on the basis of Gujarat.

Lauding the Gujarat growth model, World Bank Chief Jim Yong Kim said India's business standing will jump 50 places if the ranking is done on the basis of Gujarat.

 

The remark comes in the backdrop of India raising concerns with the World Bank over various indicators used in the ease of doing business report.

 

"If the ranking of India in doing business report was based just on Gujarat, they would improve 50 places in the doing business ranking.

 

So, my hope is that what Modi did in Gujarat in improving business environment can be scaled up now to all of India and if that happens then India will rise quickly in rankings of doing business in India," he said here.

 

The World Bank group has been publishing annual 'Doing Business Report' since 2004. The report provides specific information on ease of doing business in 189 countries.

 

As per the latest report, India had slipped three notches to 134th spot.

 

Kim also acknowledged that there are many "legitimate critics" of doing business report.

 

"Doing business report has continuously evolved in the last 10 years...for example instead of survey doing in one city we will be doing two. If we have resources we will do more," he said.

 

Doing business report is an important tool, he said, adding that "it is not perfect. It does not cover everything thing. It is focused on ease of opening a business for small and medium enterprises."

 

Kim showered praise on Prime Minister Narendra Modi, saying he was inspired by Modi's ambitious vision for India.

 

Earlier in the day, the World Bank Group President had a meeting with Modi to understand the vision of the new government.

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