New Delhi, Nov 20 (KNN) The Prime Minister of India Narendra Modi on Monday launched a Grand Challenge on resolving seven identified Ease of Doing Business (EODB) problems with the use of cutting edge technologies.

The objective of this Challenge is to tap the potential of young Indians, startups and other private enterprises to provide solutions to complex problems using current technology.

The Prime Minister apprised CEOs of the efforts being made by the government to ensure that India consistently improves its business environment

Congratulating all the government officials from the reforming ministries and departments as well as states & municipal corporations for their achievements, Modi reiterated his resolve to make India one of the easiest places to conduct business in the world.

Addressing the gathering, Hartwig Schafer, Vice President, South Asia of the World Bank Group, appreciated the enormity of India's achievement.

He also stressed that it gets tougher to improve ranks as a country moves higher up in the ranking and expressed his belief that India will continue to maintain the momentum it has gained over the last four years in its efforts in improving Ease of Doing Business.

In the World Bank's Doing Business Report (DBR, 2019) released on 31st October 2018 India has recorded a jump of 23 positions against its rank of 100 in 2017 to be placed at 77th rank among 190 countries assessed by the World Bank.

As a result of continued efforts by the government, India has improved its rank by 53 positions in the last two years and 65 positions in the last four years [2014-18].

Finance Minister, Arun Jaitley, Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, Environment Minister, Harshvardhan and Housing & Urban Affairs Minister, Hardeep Singh Puri were also present on this occasion.