India will be among top 100 in ease of doing business next year: Jayant Sinha

Minister of State for Finance Jayant Sinha on Monday exuded confidence that India will be among top 100 countries in the World Bank's list of ease of doing business ranking next year.

India now ranks 130 out of 189 countries in the ease of doing business, moving up 12 places from last year, as per the World Bank report released last month.

"We have moved up 12 ranks in the ease of doing business ...This ranking was based on may 2015 and many of the important initiatives that we have taken are only now starting to bear fruits.

Also Read: How World Bank ranks countries on ease of doing business index

"So we are very hopeful that next year when ease of doing business ranking comes we will have moved from 130 to being in top 100," Sinha said.

He was speaking at the Karur Vysya Bank - Dun & Bradstreet SME Business Excellence Awards 2015 function here.

Sinha further said if the Indian economy grows at 8%, "We can easily double our economy to $4-5 trillion over next 10 years".

Also Read: Ease of doing business: Here's how India improved its ranking under PM Modi government

Indian economy is currently pegged at $2 trillion.

The Finance Ministry has pegged the growth rate for the financial year 2015-16 at around 8.1-8.5%, which now looks difficult to achieve as the growth in the first quarter worked out to be around 7%.

Sinha said the BJP-led NDA government at the Centre was "pro-poor and "pro-market".

"If business prospers then only we can alleviate poverty," he added.