Suresh Prabhu, Commerce Minister, attributed the improvement in the ranking to the collaborative effort by the state and central government.
"The ultimate objective is to go to the top of the list", he added.
Speaking to The Indian Express, Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion (DIPP), said: "We started this process of two-way communication, where we - DIPP and other departments and agencies concerned - communicate the reforms to the stakeholders and then get the feedback from them whether it is working or not".
"I am pleased to note the priority the government is placing on the important agenda of improving the business climate to boost investment and create jobs".
The Ministry of Finance has expressed great satisfaction at the change in the trend of Israel's place in the World Bank's Ease of Doing Business ranking.
Jitendra Gianchandani, chairman and managing partner of Jitendra Consulting Group, said the UAE's improvement in the ranking from 21st place to 11th is phenomenal.
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The Turkish government implemented seven reforms making it easier to do business, only one short of Azerbaijan's eight - a record number globally and among the 10 top improvers, the report said. In addition, Mumbai abolished the practice of site inspections for registering companies under the Shops and Establishments Act.
With streamlining of processes, India made it faster and less expensive to obtain a construction permit.
Besides these reforms, other data corrections also contributed to the unprecedented improvement in the ranking of Pakistan, said Fareena Mazhar, executive director general, BOI. In all, 14 procedures are involved and an average of 170 days.
Perhaps unsurprisingly, Malta fared best in the area of "Dealing with construction permits", where the country was ranked in a global 45 position. "You have to crack the code & try and improve on the criterion in which we lack".
When the NDA came to power in 2014, India stood 142nd in World Bank's "Doing Business" list. India improved its ranking on six of the 10 parameters and has jumped 53 places in two years. "India made paying taxes easier by replacing many indirect taxes with a single indirect tax, the GST, for the entire country".
Ghana's progress reflects reforms in three key areas. As a result, the time needed for exporters to comply with documentation requirements was reduced to 14 hours, from 38 hours.
Getting credit information has also improved through increased coverage of the credit registry and providing consumer and commercial credit scores to banks and financial institutions.