The relentless rise of the rupee has given Indian exporters much to worry about. But there is good news from another quarter. The World Bank says, in a new ranking of the ease of doing business in various countries, that the average time needed to send goods abroad has fallen from 27 days to 18 days in the past year. Customs and inspection has been cut from four days to two. Red tape has been snipped at other places as well.
Such changes have made India the top reformer as far as trading across borders is concerned, even as it has climbed 12 notches (to 120) in the ranking of 178 countries. Egypt and East Europe are top reformers overall.
While a lot of attention is paid to macro reforms, such micro changes will also help enterprise and growth. A drop in the time needed to send goods abroad can help exporters work on tighter schedules and at lower costs, helping them compete even as the rupee soars.