India has risen by 30 places to rank 100th on the index.
"This has been made possible due to the quick decision-making and strong leadership of the prime minister," Pandey told PTI here.
He said legislative, administrative and policy measures taken by the government would help in further improving India's position.
The improved performance would also boost investment, he said.
Pandey said a better business environment was leading to better business opportunities for entrepreneurs, particularly small and medium enterprises.
India ranked 142nd when the Modi government took office in 2014 and 130th last year.