Modinomics did not improve India's ease of biz ranking, new methodology did

Even World Bank figures show business still tough under Modi

While Modi has celebrated India’s rapid rise in the Doing Business rankings, the World Bank’s Chief Economist recently resigned amid controversy over methodological changes. Without those changes, India’s “jump” in the rankings looks much more modest.

Speaking to the assembled billionaires at Davos last month, India’s Prime Minister Narendra Modi announced triumphantly that “the largest democracy on earth is also the fastest growing major economy.” Modi used the platform to advertise that “India is open for business” and tout his accomplishments as an economic reformer—and that claim seems to have the backing of international financial institutions.

Last October, the