Close X
Saturday, November 23, 2024
ADVT 
India

India 97th On Forbes Best Countries For Business List

The Canadian Press, 17 Dec, 2015 11:00 AM
    India has been ranked 97th, three notches below China, in Forbes annual ranking of the best countries for business with Denmark topping the list for the sixth time in ten years.
     
    European countries represent two-thirds of the top 25 with the US sliding four spots to No. 22, continuing a six-year descent since 2009 when the US ranked second overall.
     
    Denmark ranked in the top 20 in all but one of the 11 metrics used by Forbes to gauge the Best Countries for Business. It finished 28th for red tape.
     
    New Zealand moved up one spot to No. 2 (it ranked first in 2012). Rounding out the top five are Norway, Ireland and Sweden.
     
    While the US fell in Forbes ranking, the world's next four biggest economies all improved their overall standing. Britain and Japan both moved up three spots to No. 10 and No. 23 respectively.
     
    Germany improved two places to No. 18. China rose from No. 97 to No. 94.
     
    India is developing into an open-market economy, yet traces of its past autarkic policies remain, Forbes said.
     
    India's rankings on the 11 metrics were: Trade Freedom 125, Monetary Freedom 139, Property Rights 61, Innovation 41, Technology 120, Red Tape 123, Investor Protection 8, Corruption 77, Personal Freedom 57, Tax Burden 121 and Market Performance 65.
     
     
    India's growth in 2014 fell to a decade low, as India's economic leaders struggled to improve the country's wide fiscal and current account deficits, the business magazine noted.
     
    Rising macroeconomic imbalances in India, and improving economic conditions in Western countries led investors to shift capital away from India, prompting a sharp depreciation of the rupee, Forbes noted.
     
    However, investors' perceptions of India improved in early 2014, due to a reduction of the current account deficit and expectations of post-election economic reform, resulting in a surge of inbound capital flows and stabilization of the rupee.
     
    The outlook for India's long-term growth is moderately positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy, Forbes said.
     
    However, India has many challenges that it has yet to fully address, including poverty, corruption, violence and discrimination against women and girls, an inefficient power generation and distribution system and ineffective enforcement of intellectual property rights, it said.

    MORE India ARTICLES

    For Goa, Railway Minister Suresh Prabhu Is A Real 'Prabhu'!

    For Goa, Railway Minister Suresh Prabhu Is A Real 'Prabhu'!
    "Suresh Prabhu has given a lot to Goa over the last few months. We just say, 'Hay Prabhu (O lord) please bless us with these things'. 

    For Goa, Railway Minister Suresh Prabhu Is A Real 'Prabhu'!

    From Internet.org To Drones, India Enters New Technology Era

    From Internet.org To Drones, India Enters New Technology Era
      "It is central to our plans of connecting the next billion people and then the whole world," Zuckerberg said during the townhall meeting held at the Indian Institute of Technology (IIT) in New Delhi in October during his maiden visit to India.

    From Internet.org To Drones, India Enters New Technology Era

    Nirbhaya's Mother Says Not Ashamed To Take Daughter's Name

    Nirbhaya's Mother Says Not Ashamed To Take Daughter's Name
    Three years after the 23-year-old 'Nirbhaya' was brutally gang-raped here on December 16, 2012, her mother on Wednesday revealed her name, saying she was not ashamed of it.

    Nirbhaya's Mother Says Not Ashamed To Take Daughter's Name

    In A Freak Accident Air India Staffer Gets Sucked By Aircraft Engine, Dies

    In A Freak Accident Air India Staffer Gets Sucked By Aircraft Engine, Dies
    The incident took place at bay No.28 around 8.40 p.m. when a flight was being readied for departure.

    In A Freak Accident Air India Staffer Gets Sucked By Aircraft Engine, Dies

    Indian SC Bans Diesel SUVs Registration, Car Dealers Term It Inappropriate

    Indian SC Bans Diesel SUVs Registration, Car Dealers Term It Inappropriate
    The Supreme Court on Wednesday doubled the environment compensation charge (ECC) for loaded commercial vehicles entering Delhi and imposed a blanket ban on registration of diesel vehicles of 2,000 cc and above in the National Capital Region (NCR).

    Indian SC Bans Diesel SUVs Registration, Car Dealers Term It Inappropriate

    AAP, Congress Ask Arun Jaitley To Quit, CBI Rebuts Arvind Kejriwal

    AAP, Congress Ask Arun Jaitley To Quit, CBI Rebuts Arvind Kejriwal
    Jaitley, former chairman of the Delhi and District Cricket Association (DDCA), rubbished the charges against him. 

    AAP, Congress Ask Arun Jaitley To Quit, CBI Rebuts Arvind Kejriwal

    PrevNext