Assessment of impact of country business ranking on economic development

Abstract

A country's business ranking, such as the World Bank's "Ease of Doing Business" index, can have a positive impact on economic development by attracting foreign investment, promoting entrepreneurship, and improving the overall business environment. Higher rankings indicate a more favorable and streamlined environment for conducting business, which can lead to increased investment, job creation, and economic growth. Hence In this study, researcher has tried to assess the impact of India’s Ranking (Global Innovation Ranking, Ease of Doing Business Ranking and Business Freedom Ranking) on Economic Development (GDP). For the assessment of country’s business ranking on economic development, structural equation modelling has been used by the researcher and secondary data since 2015 to 2021, has been collected from the official website of world bank report. This study finding states that India’s Ranking having positive impact on Economic Development of a nation.  Overall, global business rankings provide valuable information that can be used by policy makers, businesses, and investors to make informed decisions and support economic development additionally in this study researcher has also tried to assess the impact of GDP Growth on combustion of fossil fuels million tonne, just to confirm that growth has its own toll.