DDNEWS — Creators Corner
20260806 040000 UTC
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[00:00:01] When the country asks, one has to answer,
[00:00:05] at 5 PM the bell of questions rings and
[00:00:08] that panchayat begins where issues are not postponed
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[00:02:11] Can a country leap 25 positions in the world's
[00:02:14] competitive ranking in just
[00:02:16] is shown here. People are going 15 years? India
[00:02:20] has done it. In 2010,
[00:02:23] India was at 82nd position
[00:02:26] in global competitiveness, but thanks to continuous economic
[00:02:30] reforms, a better business environment and a strong
[00:02:33] digital infrastructure, today India has reached
[00:02:36] the 57th position. This is not just a ranking
[00:02:40] but the story of a changing Indian
[00:02:43] economy. Today, India is among the fastest growing
[00:02:46] major economies in the world and has emerged as a reliable
[00:02:50] destination for global investors. This journey from
[00:02:53] 82nd to 57th
[00:02:57] position is not just a leap in numbers but a symbol of reform,
[00:03:00] trust and the development journey
[00:03:04] of a new India. Just think,
[00:03:08] in the year 2010, a list
[00:03:11] of major economies of the world is being made, which measures
[00:03:14] how easy or
[00:03:18] all its qualities. how difficult it is to do business in the market of a particular country. In this list,
[00:03:21] India's number comes at 82nd,
[00:03:25] meaning in the count of less than 100 countries, India is standing
[00:03:28] almost near the last steps. Now the scene
[00:03:31] changed, let's fast forward 13 years, to the year
[00:03:34] 2023, the same list, the same criteria, but
[00:03:38] this time India's name comes at 97th
[00:03:41] number, a direct leap of 25 positions.
[00:03:44] This is not a cinematic story, but
[00:03:47] is known throughout the world the truth of a fresh report which has attracted the attention
[00:03:50] of economists and policymakers around the world.
[00:03:53] So how did this
[00:03:56] Australia, and New Zealand leap happen, which decisions, which laws
[00:03:59] and which policy were behind it and the most important
[00:04:02] question, what's next? Let's understand this journey
[00:04:06] regulations, then India may step by step today. So, this information came from a press
[00:04:09] release of the Ministry of Commerce and Industry of the Government of India,
[00:04:13] based on a report by the American think tank
[00:04:16] Competitiveness Foundation
[00:04:20] and light titled "India's Next Growth Frontier: Reducing
[00:04:23] Anti-Competitive Market Distortions to Build on
[00:04:27] India 2010 to 2023 Reform Progress."
[00:04:30] This report was prepared by Shankar Singham on
[00:04:34] July 28, 2026. Now let's talk about the math
[00:04:37] behind this ranking. This is not a common survey
[00:04:41] but a special index called the Anti-Competitive
[00:04:44] Market Distortions (ACMD) Framework.
[00:04:48] This framework is based on three pillars.
[00:04:51] First, property rights protection, meaning how strong
[00:04:55] are property and contract rights. Second, domestic
[00:04:58] competition, meaning how easy
[00:05:01] it is to start, grow and compete
[00:05:05] in business within the country. And third, international
[00:05:08] competition, meaning how open the market is for foreign trade and investment.
[00:05:12] So this mathematical model is called the Singham Rangan
[00:05:16] Bradley (SRB) model, which calculates figures
[00:05:20] by linking each pillar's score to GDP per capita.
[00:05:23] Now the question arises, where did this improvement come from?
[00:05:27] The report clearly states that the biggest contribution
[00:05:30] came from domestic competition, meaning the improvement
[00:05:33] in domestic competition, and the biggest reason for this
[00:05:37] improvement was the Goods and Services Tax (GST) which was implemented in 2017.
[00:05:41] According to the World Trade Organization (WTO) Secretariat's
[00:05:44] Trade Policy Review report,
[00:05:47] GST unified the country's market by combining all the different taxes
[00:05:51] of the central and state governments, which reduced the problem of
[00:05:54] cascading effect (tax on tax) and reduced logistics
[00:05:58] costs. Along with this, the Insolvency and Bankruptcy
[00:06:01] Code (IBC), implemented in 2016, also played
[00:06:05] a big role. Now, the objective of this law
[00:06:08] was to resolve cases of insolvent companies within a specified
[00:06:12] time limit, maximize the value of assets,
[00:06:15] and increase the availability of credit.
[00:06:19] The impact of these reforms was also clearly visible in the World
[00:06:23] Bank's Doing Business ranking. According to the World Bank's report,
[00:06:26] this improvement in India occurred particularly in areas
[00:06:29] such as paying taxes, cross-border trade, and resolving bankruptcies.
[00:06:34] made in the customs system to facilitate trade.
[00:06:38] The report mentions initiatives such as Indian Customs
[00:06:41] Electronic Gateway (ICEGATE), Single Window Interface for
[00:06:45] Facilitating Trade (SWIFT), Authorized Economic
[00:06:48] Operator Program, Direct Port Delivery
[00:06:50] and Direct Port Entry.
[00:06:54] According to the WTO Secretariat, the SWIFT system replaced
[00:06:57] nine different documents with an integrated
[00:07:01] declaration and made online clearance
[00:07:04] possible, which expedited the movement
[00:07:08] of goods. Now, it is also important to understand
[00:07:11] the economic aspect of this entire achievement.
[00:07:15] The report estimates that due to these reforms, India is gaining
[00:07:19] an additional 1% in GDP per capita every year, and
[00:07:22] the potential loss associated with distortions has decreased
[00:07:26] by 11 percentage points within a 5-year timeframe.
[00:07:29] The strongest improvement among the three was seen in the domestic
[00:07:33] competition pillar, where the R-squared
[00:07:36] value was above 0.74 in seven different variables
[00:07:40] and even above 0.9% in many.
[00:07:43] This means that this improvement is not a temporary surge
[00:07:46] but continuous and stable progress. So far, the story
[00:07:50] sounds fantastic, doesn't it? But friends, this report is not
[00:07:54] limited to praise. It also openly discusses
[00:07:57] the way forward, and this part is the most interesting
[00:08:01] because it tells us where India's next leap can come from.
[00:08:04] So first let's talk about the challenges related to foreign trade.
[00:08:08] According to the report, in 2025, the trade in goods between the European
[00:08:12] Union and India was 118 billion euros,
[00:08:16] which is 11.1% of India's total trade,
[00:08:18] and the European Union is India's third
[00:08:22] largest trading partner. On January 27, 2026,
[00:08:25] negotiations on the EU-India Free Trade Agreement were completed,
[00:08:29] in which, according to the European Commission,
[00:08:32] more than 90% of tariffs will be eliminated or reduced.
[00:08:35] However, the report warns that despite the reduction in tariffs,
[00:08:39] non-tariff barriers such as sanitary and phytosanitary regulations (food
[00:08:42] safety standards), parasite residue limits,
[00:08:46] and carbon border adjustment mechanisms may still remain
[00:08:50] a real challenge for Indian exporters.
[00:08:53] According to WTO data, India is among the countries that have
[00:08:57] objected to the European Union's parasite mechanism
[00:09:01] residue levels rules, and on this issue, countries like
[00:09:05] America, Brazil, Canada,
[00:09:08] also seem to stand with India. Another interesting angle is
[00:09:12] that if Britain dynamically aligns with the European Union's
[00:09:16] sanitary and phytosanitary
[00:09:18] face difficulty in fully benefiting from the recently
[00:09:22] concluded UK-India FTA because Indian exporters
[00:09:26] may have to face strict regulations similar
[00:09:29] to those of the European Union in Britain as well.
[00:09:33] Now, the UK Growth Commission estimates that such an alignment
[00:09:36] could lead to a loss of about 15 billion pounds
[00:09:40] for the British economy. Now let's talk about
[00:09:43] regulations related to foreign investment, which is perhaps
[00:09:46] the most practical and common aspect for the common man.
[00:09:50] The report states that in India, 100% foreign investment
[00:09:53] is allowed through the automatic route in the e-commerce marketplace
[00:09:57] model, but direct foreign investment is not allowed
[00:10:00] in the inventory-based model. Similarly, in multi-brand
[00:10:04] retail, the limit for foreign investment is set at 51%
[00:10:08] under the government route. Along with this, conditions
[00:10:11] such as a minimum investment of $100 million, 50%
[00:10:14] stake in backend infrastructure, and 30% procurement
[00:10:18] from Indian small industries are also applicable.
[00:10:22] In the media sector, the limit for foreign investment in publications
[00:10:26] related to news and current affairs is 26%.
[00:10:29] In civil aviation, this limit is 49%
[00:10:31] through the automatic route, and in the defense sector,
[00:10:35] it goes up to 74%. The third and perhaps the most
[00:10:39] modern aspect is the digital competition policy.
[00:10:42] The report mentions the fine imposed by the Competition Commission
[00:10:45] of India on Google, that in October 2022, in the Android
[00:10:48] case, a fine of about
[00:10:50] 1337.76
[00:10:53] crore rupees was imposed, and in the Play Store
[00:10:57] and billing policy case, a fine of about
[00:10:59] 636.44 crore rupees was imposed. Also, the report analyzes
[00:11:03] the draft Digital Competition Bill introduced in 2024
[00:11:06] and the global turnover-based penalty framework,
[00:11:10] stating that rules must be evidence-based,
[00:11:13] proportionate, and transparent to maintain investor
[00:11:17] confidence and prevent innovation from being affected.
[00:11:20] Now, the biggest figure that can be called the essence of the entire
[00:11:24] report is the estimate of Competitiveness Foundation
[00:11:27] that restrictions related to foreign investment and
[00:11:31] this imbalance in competition policy combined
[00:11:34] can cause a potential loss of about 173.6
[00:11:38] billion dollars, which is about 4.2% of GDP,
[00:11:41] to the Indian economy in the next five years.
[00:11:45] Out of this, about 127.2
[00:11:48] billion dollars is estimated to be related
[00:11:51] to foreign investment restrictions, and about 46.4
[00:11:54] billion dollars is estimated
[00:11:55] to be related to competition policy drift.
[00:12:00] It is worth noting that the report itself says that India
[00:12:03] is the first to bear this loss, because obstacles to investment,
[00:12:06] competition, and technology dissemination directly affect
[00:12:10] domestic productivity. So, friends, the overall picture
[00:12:13] is something like this: the reforms India has undertaken
[00:12:17] in the last decade and a half, be it GST, IBC, or
[00:12:20] trade facilitation measures, are considered a major and reliable
[00:12:24] achievement of India's economic policy. The report also states
[00:12:28] that through further reforms, whether it is reviewing
[00:12:31] retail e-commerce regulations, expanding the scope of foreign
[00:12:35] investment, or balancing digital competition policy
[00:12:39] further, India still has a great opportunity to accelerate
[00:12:43] its growth rate. That means the story
[00:12:47] is not over yet, but according to the report,
[00:12:49] the real frontier
[00:12:51] is yet to come.
[00:22:28] creative episode of Creator's Corner. If you also have a passion
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[00:23:00] watching Creator's Corner only on DD News. Namaskar.
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