India has made significant progress in strengthening its economic framework, moving up 25 positions in global rankings for structural and pro-competitive reforms. According to a report released by the Competere Foundation, India improved its ranking from 82nd in 2010 to 57th in 2023, reflecting continued efforts to reduce market distortions and create a more competitive business environment.
The report, titled India’s Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India’s 2010–2023 Reform Progress, was introduced during a discussion organized by the Centre for Trade and Investment Law (CTIL) at the Indian Institute of Foreign Trade (IIFT) in New Delhi. The study evaluates India’s reform progress through the Market Distortions Performance Index, which measures performance across three major areas: protection of property rights, domestic competition, and international competition.
The report highlights several major reforms that have contributed to India’s improved standing. Key initiatives include the implementation of the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), improvements in regulatory systems, and upgrades in trade facilitation processes. These measures have helped simplify business operations, strengthen market efficiency, and improve investor confidence.
The assessment also recognizes India’s efforts to enhance investment opportunities, encourage fair competition, expand digital markets, and reduce regulatory challenges affecting participation in global trade. These reforms have supported the country’s broader objective of building a transparent and business-friendly economic ecosystem.
The Competere Foundation emphasized the importance of continuing an evidence-based and consumer-focused approach to competition policies. The report recommended reviewing sector-specific investment limitations and increasing cooperation with international partners to improve market access and strengthen India’s role in global commerce.
The event featured participation from policymakers, business representatives, legal professionals, and academic experts who discussed India’s economic transformation and the next stage of reforms needed to maintain long-term growth.
The findings underline India’s ongoing commitment to improving competitiveness, productivity, and global economic integration. With continued policy improvements and structural changes, India is expected to further strengthen its position as a major destination for investment and a key contributor to global economic growth.
