India has climbed 25 positions in the Market Distortions Performance Index, improving from 82nd place in 2010 to 57th in 2023, according to a new report released by the Competere Foundation.
The report attributes the improvement to a series of structural reforms that have strengthened competition, reduced market distortions, and enhanced India’s attractiveness as an investment destination.
Key Reforms Driving Growth
Titled “India’s Next Growth Frontier: Enhancing India’s 2010–2023 Reforms through Competitive Market Reduction,” the report highlights several reforms that have contributed to India’s improved global standing, including:
- Goods and Services Tax (GST), which simplified the indirect tax system.
- Insolvency and Bankruptcy Code (IBC), improving insolvency resolution and creditor confidence.
- Regulatory reforms aimed at reducing compliance burdens and improving ease of doing business.
- Trade facilitation measures that modernised customs procedures and strengthened global trade integration.
Three Pillars of the Index
The Market Distortions Performance Index evaluates countries across three key areas:
- Protection of Ownership Rights
- Domestic Competition
- International Competition
According to the report, India has recorded steady progress across all three pillars through sustained policy reforms over the past decade.
Focus on Long-Term Competitiveness
The report states that India’s reform agenda has helped create a more transparent, competitive, and investment-friendly business environment while laying the foundation for long-term economic growth.
It also recommends continued reforms to further strengthen market competitiveness and sustain economic momentum.
Report Launch
The report was unveiled during a discussion on “India’s Reform Journey, Market Discrepancies and the Emerging Growth and Competitiveness Phase,” jointly organised by the Centre for Trade and Investment Law (CTIL) at the Indian Institute of Foreign Trade (IIFT) and the Competere Foundation at the India Habitat Centre, New Delhi.
The event brought together policymakers, legal experts, academics and industry representatives to discuss India’s reform trajectory and future growth opportunities.
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