India rises from 82nd to 57th in global rankings, in structural and pro-competitive reforms: Report by Competere Foundation

The Competere Foundation’s report ‘India’s Next Growth Frontier’ finds that India has risen 25 places in the global Market Distortions Performance Index, moving from 82nd to 57th for the period 2010‑2023. The improvement is attributed to structural and pro‑competitive reforms such as the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), better regulatory environment, and modernised trade‑facilitation systems. The report’s analysis shows the bulk of progress coming from the Domestic Competition pillar, while remaining distortions – especially foreign‑investment caps and digital‑market competition‑policy drift – are estimated to cost the economy about $173.6 billion (≈4.2 % of GDP) over five years. The release highlights the need for continued evidence‑based competition policy and removal of sector‑specific investment restrictions to sustain growth.