"We need to trust the process" ENSO's MD Vaibhav Maloo opens up on Ease of Doing Business in India

For a developing country like India, its businesses, entrepreneurs, innovators and ideas of wealth creation are an important catalyst in its development. While the country's Ease of Business has significantly improved as according to a World Bank report, India took a great leap, as it rose from 142nd position in 2015 to 63rd in 2020. Shedding a light on the same, Vaibhav Maloo, The Managing Director of ENSO Group, said- ,"India is on the right track but we keep derailing ourselves by going haywire. We must place faith in our country’s leadership as it seems to be delivering. We need to trust the process, keeping our political affiliations aside, today India is drawing a huge amount of investment in each sector as the key players around the globe have realised the potential of Indian markets and the power India holds at the international forums." 

Maloo also said that significant steps have been taken by the government which indicate that the country is moving in the right direction. He indicated that introduction of a single window for the clearance of permit and licences has been a big relief for many. Other initiatives like Startup India have really given a boost to entrepreneurs, and as a result India stands at the third place in providing an immaculate start-up ecosystem. 

Maloo pointed out that schemes such as the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and the Pradhan Mantri Mudra Yojana (PMMY) have  helped to improve access to credit for small and medium-sized enterprises (SMEs), 

The Digital India campaign has contributed in improving the digital infrastructure in the country. The digital revolution has been impeccable as internet penetration and digital literacy has increased at a rapid pace. 

However, Maloo also agreed that there are still several challenges that businesses face in India.  But also said that this doesn't mean that the nation is not progressing. "Every step in the right direction is necessary, but if you take a step ahead and take two steps backwards, it derails your journey. But, we are growing at a good pace and we shall continue to do so in the future as well." said Maloo.