Close X
Tuesday, November 5, 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

    After Spat With Minister Haryana Transfers Woman Police Office

    After Spat With Minister Haryana Transfers Woman Police Office
    "Sangeeta Rani, superintendent of police, Fatehabad, has been posted as Commandant 4th IRB (India Reserve Battalion), Manesar, relieving Vikas Dhankar of the additional charge," a state government spokesman said here.

    After Spat With Minister Haryana Transfers Woman Police Office

    Badal To Amarinder Singh: Shun Confrontation, Adopt Consensus

    Badal To Amarinder Singh: Shun Confrontation, Adopt Consensus
    Addressing the second 'Sadbhawna Rally' of the ruling Shiromani Akali Dal here, Badal said that he was ready to sacrifice his life to ensure peace in Punjab.

    Badal To Amarinder Singh: Shun Confrontation, Adopt Consensus

    Prashant Bhushan Slams Kejriwal Government's Lokpal Bill

    Prashant Bhushan Slams Kejriwal Government's Lokpal Bill
     Terming the anti-graft Jan Lokpal bill drafted by the Arvind Kejriwal government a watered-down version of the original legislation, expelled AAP leader Prashant Bhushan on Saturday denounced it as a farce and a fraud on the people.

    Prashant Bhushan Slams Kejriwal Government's Lokpal Bill

    'Get Out!' Haryana Health Minister Tells Woman Officer, She Stays Put - Watch!

    'Get Out!' Haryana Health Minister Tells Woman Officer, She Stays Put - Watch!
    Haryana's outspoken Health and Sports Minister Anil Vij on Friday ordered a woman police officer to "get out" of a meeting. When she refused, he himself stormed out in a huff.

    'Get Out!' Haryana Health Minister Tells Woman Officer, She Stays Put - Watch!

    No Breakthrough On GST In Modi-Congress Meet, More Talks Soon

    No Breakthrough On GST In Modi-Congress Meet, More Talks Soon
    The Congress party leaders would be discussing it within their own party and there would be after sometime a fresh contact between the government and them to discuss the subject further

    No Breakthrough On GST In Modi-Congress Meet, More Talks Soon

    Patiala Journalist Baltej Pannu Arrested In Rape Case

    Patiala Journalist Baltej Pannu Arrested In Rape Case
    Patiala district police have arrested radio and social media commentator Baltej Pannu in a rape case lodged by a social activist.

    Patiala Journalist Baltej Pannu Arrested In Rape Case