The government’s early preparations for the new World Bank index Business Ready (B-READY) reflect renewed focus on foreign direct investment (FDI) as an enabler for economic growth. Such a proactive approach is good but even a more robust, qualitative index is likely to skim the surface of an economy where the shadow of the licence raj looms over the culture of investment and economic activity. To become a credible investment destination for the world, India needs to streamline its policies at state and Centre and insulate