India has moved up 25 places in global rankings tracking structural and pro-competitive reforms, rising from 82nd position in 2010 to 57th in 2023, according to a report by the Competere Foundation. The improvement highlights the country's progress in reducing market distortions, strengthening competition and creating a more conducive environment for investment and economic activity.

The findings were outlined in the Competere Foundation's report, titled India's Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India's 2010–2023 Reform Progress. The report assesses India's reform trajectory through the Market Distortions Performance Index and examines how policy changes over the period have affected the country's competitiveness.

The report was launched during a policy discussion organised by the Centre for Trade and Investment Law (CTIL) at the Indian Institute of Foreign Trade (IIFT), New Delhi, in collaboration with the Competere Foundation for Trade and Competition Policy. The discussion brought together policymakers, legal experts, academics and industry representatives to assess India's reform journey and identify areas that could shape the next phase of economic growth.

India rises from 82nd to 57th in global reform rankings

The 25-place improvement is significant because the index focuses not simply on economic growth, but on the structural conditions that determine how effectively markets function.

According to the report, India's position improved from 82nd in 2010 to 57th in 2023. The change reflects what the Competere Foundation describes as sustained efforts to reduce market distortions and strengthen competition.

The Market Distortions Performance Index examines three broad areas: protection of property rights, domestic competition and international competition. Together, these pillars provide a framework for assessing whether an economy has policies and institutions that encourage competitive markets while reducing unnecessary regulatory and commercial barriers.

The improvement therefore represents more than a change in ranking. It points to a broader transformation in India's regulatory and economic policy landscape over the 2010–2023 period.

GST and IBC among reforms highlighted

Several major reforms introduced during the period have been identified as contributors to India's improved performance.

The Goods and Services Tax, or GST, stands out as one of the most important changes. Its implementation replaced a complex network of indirect taxes with a more unified tax framework across the country. The reform was aimed at simplifying taxation, reducing fragmentation and creating a more integrated domestic market.

The Insolvency and Bankruptcy Code, or IBC, is another major reform highlighted by the report. Introduced to establish a time-bound framework for dealing with corporate insolvency, the legislation sought to improve the process for resolving distressed businesses and strengthen the broader institutional framework around credit and investment.

Alongside GST and IBC, the report points to improvements in the regulatory environment and the modernisation of trade facilitation systems. These changes have been associated with efforts to make business processes more predictable, transparent and efficient.

The combined effect of such measures, according to the report, has been to reduce some of the inefficiencies and distortions that can discourage investment and limit competition.

Focus shifts from reforms to competition

While the ranking improvement reflects reforms already undertaken, the Competere Foundation report also looks ahead.

One of its central arguments is that India's next phase of growth will depend on continuing to reduce anti-competitive market distortions. That means ensuring that reforms do not stop at changing regulations on paper but produce measurable improvements in market outcomes.

The report examines areas including competition policy, investment conditions, digital markets and external regulatory barriers. These issues are becoming increasingly important as India's economy becomes more integrated with global supply chains and technology-driven markets.

The digital economy, in particular, presents a new set of competition-policy questions. Rapid technological change can create opportunities for innovation and investment, but it can also produce new forms of market concentration and regulatory challenges.

The report therefore advocates an evidence-based and effects-oriented approach to competition policy. Instead of relying primarily on broad regulatory intervention, policymakers are encouraged to assess how specific measures affect consumers, businesses, innovation and market efficiency.

Investment restrictions could be next reform frontier

Another area highlighted by the report is India's sector-specific investment restrictions.

The study calls for such restrictions to be reviewed in light of their actual economic and consumer-welfare effects. Where restrictions are no longer necessary or do not produce sufficient benefits, reducing them could potentially encourage investment, facilitate technology transfer and strengthen India's links with global value chains.

This recommendation comes at a time when countries are competing to attract investment and position themselves within increasingly diversified global manufacturing and supply networks.

For India, improving the investment environment could have implications beyond foreign capital inflows. Greater investment can support technology adoption, productivity improvements, employment and integration with international production networks.

However, the report's approach is not simply one of deregulation. It emphasises assessing restrictions based on evidence and outcomes, with the broader objective of ensuring that regulation supports competition, innovation and consumer welfare.

International competition becomes increasingly important

India's improved ranking also comes against the backdrop of a rapidly changing global trading environment.

As companies reorganise supply chains and governments increasingly focus on trade resilience, market access and regulatory standards, the ability of Indian businesses to compete internationally will depend partly on how effectively domestic reforms are complemented by international cooperation.

The Competere Foundation report recommends stronger cooperation with like-minded trading partners to address regulatory barriers in overseas markets. Greater collaboration on standards, regulatory alignment and competition policy could make it easier for Indian businesses to access international markets.

This is particularly relevant for India's broader ambition to increase its participation in global value chains. Domestic competitiveness alone may not be sufficient if exporters continue to encounter regulatory barriers in foreign markets.

The report therefore places India's reform agenda within a wider international context, linking domestic competition and investment reforms with the country's ability to compete in global markets.

A positive shift, but not the end of the reform journey

India's move from 82nd to 57th is being presented as evidence of substantial progress, but the report does not suggest that the reform process is complete.

Instead, the 25-place rise provides a benchmark for the changes achieved between 2010 and 2023 while highlighting the challenges that remain.

The next stage could require stronger institutions, more consistent implementation and continued efforts to identify and remove unnecessary market distortions. Competition policy will also need to adapt as new technologies, business models and digital markets reshape the economy.

The report's recommendations suggest that future reforms will need to be increasingly outcome-focused. Policies will have to be assessed not only by whether they have been introduced, but by whether they improve productivity, encourage investment, strengthen competition and ultimately deliver better outcomes for consumers and businesses.

What India's 57th position means

India's rise to 57th place in the global structural and pro-competitive reform rankings offers a broader measure of the country's economic transformation over the past decade.

From GST and insolvency reform to regulatory improvements and trade facilitation, a series of policy changes have contributed to a more integrated and competitive economic framework. The Competere Foundation's assessment indicates that these efforts have translated into a 25-place improvement in its Market Distortions Performance Index ranking.

But the more important question is what comes next.

With India seeking to expand investment, strengthen manufacturing, deepen global trade links and sustain long-term economic growth, reducing remaining barriers to competition could become increasingly important.

The report's central message is therefore twofold: India's reform efforts have produced measurable progress, but maintaining that momentum will require continued policy innovation and a willingness to reassess regulations as economic conditions change.

India's jump from 82nd to 57th is consequently not just a reflection of reforms already completed. It also sets the stage for the next phase of the country's competitiveness agenda — one in which stronger competition, easier investment, more efficient regulation and deeper global integration could play a defining role.

With input from agencies

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