Singapore is the best place to do business in the world : World Bank

According to the world bank list, Singapore is the best place to do business in the world.
List of top 10 countries is :
1. Singapore
2. New Zealand
3. Denmark
4. Korea
5. Hong Kong
6. United Kingdom
7. United States
8. Sweden
9. Norway
10. Finland
Rank is taken out from 189 countries. Many issues were compared such as dealing with construction permits, getting electricity, registering property and trading across borders.
Various steps were taken by Singapore to secure its position. Some of these are :
a.    introducing a new electronic litigation system that streamlines litigation proceedings; 
b.    it made transferring property easier by introducing an online procedure for property transfer;
c.     it improved its credit information system by guaranteeing by law borrowers’ right to inspect their own data; 
d.    it improved its credit information system by collecting and distributing information on firms; and
e.     it made starting a business easier by combining tax registration with business registration on a single online form. 
India secured 130th position. The position is improved from the last year as many initiatives have been taken by Department of Industrial Policy and Promotion ("DIPP") . These are :
A. Industrial Licenses
The application for Industrial License ("IL") and Industrial Entrepreneur Memorandum ("IEM") can be made online. This will facilitate filing applications and online payment of service charges. Fourteen services are brought into one portal which will work as a single window portal.The Ministry of Home Affairs ("MHA") has stated that it will grant security clearance on IL applications within twelve weeks.
B. Export-Import Documents
Initially the documents required for export and import of goods was ranging upto eleven documents. Now the number of documents required for export and import of goods are limited to three documents.
C. Ministry of Defence ("MOD")
The list of defence products requiring an IL has been issued. This list excludes large number of parts/ components, castings/ forgings etc. from the purview of an IL.Further, products with dual use (i.e. having military as well as civilian applications), unless classified as defence item, will also not require an IL from the defence perspective. In case of these items only an IEM has to be filed.
D. Ministry of Corporate Affairs ("MCA")
The Companies Amendment Act, 2015 ("Amendment Act") has been passed. This Amendment Act amongst other important changes removes requirements of minimum paid-up capital and common seal for companies.
E. Ministry of Environment and Forests ("MOEF")
The process of applying for Environment and Forests clearances has been made online through MOEF portal.
F. Ministry of Labour and Employment ("Labour Ministry")
1.    The Labour Ministry has set up a unified portal for registration of Units for Labour Identification Number, reporting of Inspection, submission of returns and grievance redressal.
2.    The registration with Employees Provident Fund Organization and Employees State Insurance Corporation ("ESIC") has been automated. The ESIC registration number is being provided on a real-time basis.
The focus of the 'ease of doing business policy' is mainly on cutting out the tedious documentation and unnecessary paper work and getting the work done in a shorter time span. It was imperative to take steps to address the concerns and delays, to enable the industry to grow. This was a much needed step to simplify compliance and to make India more investor friendly.