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India is preparing to introduce the Business-Ready (B-Ready) index, the World Bank's new flagship report that will evaluate the business environment and investment climate in economies worldwide. This index will replace the World Bank's Doing Business index, which previously ranked countries based on their business-friendly environment.
The Commerce and Industry Ministry has requested information from traders, clearing agents, and freight forwarders regarding the time and cost associated with social trade, particularly for digitally ordered goods being exported. The B-Ready report will cover 10 areas in the business lifecycle, including business entry, labor, financial services, international trade, and taxation.
The international trade aspect of the report will focus on evaluating the efficiency of importing and exporting goods and services, dealing with customs clearances, and engaging in digital trade. Digital trade involves transactions that facilitate access to cross-border digital markets and enhance the participation of end consumers.
An official stated, "Reducing trade barriers, compliance, and transaction costs for businesses are crucial to fully reap the benefits of international trade." India's B-Ready report is scheduled to be released in April 2026.
The ministry has also asked for information on whether any directly exported goods are ordered through electronic means and shipped by mail parcel or courier service. This information is essential as India aims for $200-300 billion in ecommerce exports by 2030. Ecommerce exports are projected to be $4-5 billion in FY23, which accounts for 0.9-1.1% of India's total merchandise exports, as per a report by consulting firm EY and industry group Assocham.
Firms have been instructed to outline the total time taken to export digitally ordered goods—from the moment the goods were ready for pickup by postal or courier service until they were delivered. Additionally, they have been asked to evaluate the total cost of exporting digitally ordered goods as a percentage of the total value of the exported goods and the average cost of complying with the requirements of border control agencies, logistics, and handling.
An official stated, "We are aiming to incorporate B-Ready elements into the Business Reforms Action Plan," which assesses and ranks states based on 301 reform action points that enhance investor confidence and citizens' access to government services. Thank you.
Regards,
Kautilya, IBS Mumbai.
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