After World Bank announced India as one of the five fastest reformers on Tuesday, India Economic Affairs Secretary Subhash Chandra Garg said the government is now hopeful of an increase in private investment.
"Now I am in a situation that I can say that private investment is reviving in India now," Garg said.
Garg said they are working on the factors which decreased private investments.
"There were reasons like some wrong investments which caused a decrease. It is resolving through IBC and the new data is telling that there had been 5% growth. We are making sure with our efforts that we achieve this as well," Garg added.
India climbed 30 positions to rank 100th amongst 190 countries, in the 'Ease of Doing Business' report by the World Bank. The World Bank Vice President, South Asia, Annette Dixon, said that the bank expects India to continue to make good progress in the coming years.
Disclaimer: No Business Standard Journalist was involved in creation of this content
