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Structural Reforms Propel India from 82nd to 57th Position
Competere Foundation Highlights India’s Reform Success
GST, IBC and Market Reforms Drive Global Confidence
Next Phase Focuses on Investment, Innovation and Trade Competitiveness
Pooja Srivastava
Any Time News Network
New Delhi: India’s sustained structural and pro-competition reforms have earned global recognition, with the country improving its position from 82nd to 57th in the Market Distortions Performance Index, according to the latest report released by the Competere Foundation. Covering the period between 2010 and 2023, the report highlights India’s remarkable progress in reducing market distortions, strengthening competition, and creating a more investment-friendly 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 unveiled during a policy discussion jointly organised by the Centre for Trade and Investment Law (CTIL), Indian Institute of Foreign Trade (IIFT), and the Competere Foundation.
The assessment credits India’s rise to a series of transformative reforms, including the implementation of the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), regulatory simplification, trade facilitation measures, and policies promoting greater domestic and international competition.
The report evaluates market distortions across three key pillars—property rights protection, domestic competition, and international competitiveness. It also analyses developments related to investment conditions, digital markets, regulatory frameworks, and global trade barriers that influence India’s competitiveness.
Delivering the keynote address, former Union Government Secretary Sudhanshu Pandey emphasised the importance of continuous reforms to sustain India’s economic momentum. Shanker Singham, Chairman of the Competere Foundation, presented the report’s major findings, while Dr. James J. Nedumpara, Head of CTIL, underlined the significance of evaluating India’s reform trajectory in an increasingly competitive global economy.
Policy experts recommended strengthening evidence-based competition policies, reviewing sector-specific investment restrictions, promoting digital market reforms, and deepening cooperation with like-minded trading partners to overcome international regulatory barriers.
The report concludes that India’s reform journey has significantly enhanced investor confidence and global competitiveness. With sustained policy momentum, institutional reforms, and a strong focus on innovation, India is well-positioned to emerge as one of the world’s leading economic and manufacturing destinations in the coming decade.
