The report credits major structural reforms between 2010 and 2023.
GST, IBC and trade facilitation improvements helped reduce market distortions.
Highlights:
- India improved its global ranking from 82nd to 57th between 2010 and 2023.
- The report attributes the rise to structural and pro-competitive economic reforms.
- GST, Insolvency and Bankruptcy Code (IBC) and trade reforms were among the key drivers.
- The assessment covers property rights, domestic competition and international competition.
- Experts called for more evidence-based competition policies and fewer investment barriers.
- The report was launched during a policy discussion organised by CTIL at IIFT, New Delhi.
India has climbed 25 places in a global competitiveness ranking, moving from 82nd position in 2010 to 57th in 2023, according to a new report by the Competere Foundation. The report, titled India’s Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India’s 2010–2023 Reform Progress, highlights the country’s progress in implementing structural reforms that have improved competition and reduced market distortions.
The report was released during a policy discussion organised by the Centre for Trade and Investment Law (CTIL) at the Indian Institute of Foreign Trade (IIFT), New Delhi. Experts from government, academia, industry and legal circles discussed India’s reform journey and the next phase of measures needed to strengthen competitiveness.
According to the report, India’s improved performance is driven by reforms in three key areas—property rights protection, domestic competition and international competition. Major initiatives such as the implementation of the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), improvements in the regulatory framework and modernisation of trade facilitation systems have played an important role in enhancing the country’s business environment.
The report also examines developments in investment policies, digital markets, competition regulations and external trade barriers. It notes that these reforms have strengthened India’s ability to compete in global markets while making the domestic economy more efficient.
The study recommends that India continue pursuing evidence-based competition policies, review sector-specific investment restrictions and work closely with like-minded trading partners to reduce regulatory barriers in international trade. These steps, it says, will further improve productivity, attract investment and support long-term economic growth.
Officials and policy experts at the event said India’s reform momentum has created a stronger foundation for sustained growth, but continuous policy improvements will be essential to maintain competitiveness in an increasingly dynamic global economy.
