India has climbed 25 places in global rankings for structural and pro-competitive reforms, improving from 82nd in 2010 to 57th in 2023, according to the report India's Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India's 2010–2023 Reform Progress released by the Competere Foundation. The report, launched during a discussion organised by the Centre for Trade and Investment Law (CTIL) at the Indian Institute of Foreign Trade (IIFT), New Delhi, attributes India's improved standing to sustained efforts in reducing market distortions and strengthening competitiveness. The assessment, based on the Market Distortions Performance Index, evaluates reforms across three key pillars, property rights protection, domestic competition and international competition. It highlights landmark initiatives such as the implementation of the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), improvements in the regulatory environment and the modernisation of trade facilitation systems.The report also highlights India's progress in strengthening investment conditions, promoting competition, improving digital markets and addressing external regulatory barriers to enhance participation in global trade. It recommends maintaining an evidence-based and consumer-focused approach to competition policy, reviewing sector-specific investment restrictions and strengthening cooperation with like-minded trading partners to improve market access and competitiveness. The event brought together policymakers, industry leaders, legal experts and academicians to discuss India's reform trajectory and identify the next phase of structural reforms required to sustain long-term economic growth. The findings reinforce India's continued efforts to build a more transparent, competitive and investment-friendly business environment while enhancing productivity and integration with the global economy. As India advances its reform agenda, sustained policy measures are expected to further strengthen the country's competitiveness and support its ambition of becoming a leading global economic and investment destination.Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.https://www.ibef.org/news/india-rises-from-82nd-to-57th-in-global-rankings-in-structural-and-pro-competitive-reforms-report-by-competere-foundation (ICE MUMBAI)

Fonte notizia: IBEF