India Climbs 25 Places in Global Competitiveness Reform Rankings

The report measures countries using its Market Distortions Performance Index, which evaluates progress across three key areas: protection of property rights, domestic competition and international competition.

India has moved up 25 places in a global assessment of market competitiveness, climbing from 82nd to 57th between 2010 and 2023, according to a new report by the Competere Foundation. Titled India's Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India's 2010–2023 Reform Progress, the report says the improvement reflects sustained structural and pro-competitive reforms that have reduced market distortions and strengthened the country's business environment.

The findings were unveiled during a policy discussion hosted by the Centre for Trade and Investment Law (CTIL) at the Indian Institute of Foreign Trade (IIFT) in collaboration with the Competere Foundation at the India Habitat Centre in New Delhi.

Reforms improve competition and investment climate

The report measures countries using its Market Distortions Performance Index, which evaluates progress across three key areas: protection of property rights, domestic competition and international competition.

According to the assessment, several major policy initiatives contributed to India's improved ranking. These include the introduction of the Goods and Services Tax (GST), implementation of the Insolvency and Bankruptcy Code (IBC), improvements in the regulatory environment and the modernisation of trade facilitation systems.

The study also reviews developments in competition policy, investment conditions, digital markets and external regulatory barriers that influence India's competitiveness and participation in global trade.

Experts discuss the next phase of reforms

The event opened with remarks from Dr James J. Nedumpara, Head of CTIL, who highlighted the importance of evaluating India's reform journey in the context of global trade and economic competitiveness. Former Government of India Secretary and State Election Commissioner of the Union Territory of Ladakh, Sudhanshu Pandey, delivered the keynote address, while Shanker Singham, Chairman and President of the Competere Foundation for Trade and Competition Policy, presented the report's main findings.

A panel of legal, academic, industry and policy experts later discussed India's reform experience, the investment climate, competition policy and emerging challenges in international trade.

Report calls for continued evidence-based reforms

The report recommends that India continue strengthening its competitiveness through evidence-based competition policies and regular reviews of sector-specific investment restrictions, keeping consumer welfare at the centre of policy decisions. It also encourages deeper cooperation with like-minded trading partners to reduce regulatory barriers and improve India's integration into global markets.

Participants at the event agreed that maintaining the momentum of structural reforms will be important for improving productivity, attracting investment and supporting India's long-term economic growth.