{"id":292634,"date":"2024-04-23T19:49:26","date_gmt":"2024-04-23T14:19:26","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=292634"},"modified":"2024-04-23T19:49:26","modified_gmt":"2024-04-23T14:19:26","slug":"b-ready-index","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/b-ready-index\/","title":{"rendered":"B-READY Index"},"content":{"rendered":"

Source<\/strong>: The post B-READY Index has been created, based on the article \u201cB-READY for business: India’s investment culture needs strengthening\u201d<\/strong> published in \u201cBusiness standard<\/strong>\u201d on 23 April 2024.<\/p>\n

UPSC Syllabus Topic: <\/strong>GS Paper 2- international relations-Important International institutions, agencies and fora, their structure, mandate.<\/p>\n

News<\/strong>: The article discusses India’s preparation for the new World Bank Index Business Ready (B-READY)<\/strong>, replacing the defunct Ease of Doing Business (EoDB) Index.<\/p>\n

For details information on Lessons from the death of the ease of doing business index <\/strong>read here<\/strong><\/a><\/p>\n

What is the B-READY Index?<\/strong><\/h2>\n

The B-READY Index is a new metric designed by the World Bank to assess business environments, set to launch in September 2025.<\/p>\n

It aims to replace the now-defunct Ease of Doing Business Index and plans to cover 180 economies.<\/p>\n

This index focuses on broader qualitative assessments, including regulatory quality and environmental considerations.<\/p>\n

How is India Preparing for the B-READY Index?<\/strong><\/h2>\n

India is gearing up for the B-READY Index through proactive steps taken by the Department for Promotion of Industry and Internal Trade (DPIT).<\/p>\n

DPIT is conducting bi-monthly meetings with nodal ministries to evaluate responses to over 1,300 questions from the B-READY questionnaire.<\/p>\n

These meetings aim to assess and enhance India’s position in terms of business readiness and attractiveness for foreign investments.<\/p>\n

Why India need B-READY Index?<\/strong><\/h2>\n

Addressing Subdued FDI: <\/strong>India has seen limited success in attracting foreign direct investment (FDI), making the B-READY Index crucial for enhancing its investment climate.<\/p>\n

Improving Business Environment:<\/strong> The B-READY Index aims to go beyond the former Ease of Doing Business metrics by including qualitative assessments that more accurately reflect the business landscape.<\/p>\n

Policy and Implementation Gaps:<\/strong> Examples like Apple’s vendors leaving India and Vinfast’s subsidy issues highlight the need for clearer policies and better communication, issues the B-READY Index seeks to address.<\/p>\n

Encouraging Multinational Presence:<\/strong> A refined index could help attract more multinationals, as current policy uncertainty has deterred significant investments.<\/p>\n

Question for practice:<\/strong><\/p>\n

Discuss India’s preparation for the B-READY Index and its significance in improving the country’s business environment and attracting foreign investments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post B-READY Index has been created, based on the article \u201cB-READY for business: India’s investment culture needs strengthening\u201d published in \u201cBusiness standard\u201d on 23 April 2024. UPSC Syllabus Topic: GS Paper 2- international relations-Important International institutions, agencies and fora, their structure, mandate. News: The article discusses India’s preparation for the new World Bank… Continue reading B-READY Index<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[10503,212,239],"class_list":["post-292634","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-business-standard","tag-gs-paper-2","tag-international-relations","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/292634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=292634"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/292634\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=292634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=292634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=292634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}