evidence: The end of License Raj in 1991 paved the way for India to emerge as one of the world's fastest-growing major economies, demonstrating the transformative power of economic liberalisation. Over the past decade, India has taken its place as a Top 5 global economy, on track to soon be the 3rd largest, behind just the US and China. This has been bolstered by the Government’s efforts to enhance ease of doing business (EODB) through reforms. EODB has positively impacted tax collection, reduced compliance burden, increased the number of start-ups and supported FDI. India had ranked 133rd in World Bank’s Ease of Doing Business Report in 2009. In a decade it took a giant leap and was ranked 63rd in 2019. During this journey, India’s ranking for construction permits improved from 184 in 2014 to 27 in 2019, whereas for getting a power connection, from 137 in 2014 to 22 in 2019. India continues its trend of improving its business environment ranking in the world as per the Economist Intelligence Unit (EIU) report (comparing Q2 2022 with Q2 2023). [...] As per the EIU report, Vietnam & Thailand had the biggest move worldwide in the rankings, followed by India. Global organisations who are de-risking their supply chain are benefiting from policies favourable to foreign investors provided by Vietnam and Thailand.