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New Delhi : India ranks 63rd among 190 countries in World Bank’s Ease of Doing Business Report (EODB) 2020 improving by 14 ranks from its rank of 77 in 2019. India has improved its rank in 7 out of 10 indicators and has moved closer to international best practices. The 2020 edition of the Report acknowledges India as one of the top 10 improvers, third time in a row, with an improvement of 67 ranks in 3 years. It is also the highest jump by any large country since 2011.
A total of 21,778 startups are now recognised under the Startup India Initiative of which 2,912 startups have been recognised since June 1, 2019. The Startup India Hub has 3,42,614 registered users of which 21,540 users have been added since June 1, 2019.With the amendment in Section 54GB of Income Tax Act on August 1t, 2019, the condition of minimum holding of 50% of share capital or voting rights in the startup has been relaxed to 25%, according to a PIB release.
In the past 4 years, India’s rank in the GII has improved from the 81st rank in 2015 to the present 52nd rank in GII 2019 report. India became the first developing country to launch the Global Innovation Index (GII) in association with World Intellectual Property Organisation (WIPO) and Confederation of India (CII).