Narendra Modi vowed to improve India's business ranking when he came to office. The country has since gone from 142nd to 63rd
, with just two sewing machines, established long ago on the outskirts of Lima, Peru’s capital city, may be one of the world’s most influential companies, even though it never started operating—and was never intended to do so. The business was conceived as an experiment by Hernando de Soto, a Peruvian economist, who commissioned a team to go through the motions of setting up the firm.
It has nonetheless become hugely influential. Costing less than 0.25% of the bank’s operating budget, it has caught the attention of some of the world’s most powerful people. Narendra Modi, the prime minister of India, has resolved to lift his country into the ranks of the top 50 by 2020. It climbed to 63rd place this year, from 142nd when he took office.
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