Close X
Sunday, November 24, 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

    Punjab Police Release Two Brothers Accused Of Guru Granth Sahib Desecration

    Punjab Police Release Two Brothers Accused Of Guru Granth Sahib Desecration
    Officials said they had "nothing more to investigate" against them.

    Punjab Police Release Two Brothers Accused Of Guru Granth Sahib Desecration

    43-Year-Old Delhi Woman Charges African Man With Rape

    43-Year-Old Delhi Woman Charges African Man With Rape
    A 43-year-old woman has accused an African man, whom she was not able to identify further, of raping her many times on the pretext of marriage and filming objectionable videos

    43-Year-Old Delhi Woman Charges African Man With Rape

    Punjab To Hand Over Guru Granth Sahib Sacrilege Cases To CBI

    Punjab To Hand Over Guru Granth Sahib Sacrilege Cases To CBI
    The move follows the controversy around the police investigation into the cases which has led to a deadlock with hardliner Sikh activists and organisations who have rejected the police probe.

    Punjab To Hand Over Guru Granth Sahib Sacrilege Cases To CBI

    4 Bouncers Held For Manhandling Media Persons At Harbhajan Singh's Wedding

    4 Bouncers Held For Manhandling Media Persons At Harbhajan Singh's Wedding
    Punjab Police have arrested four bouncers who allegedly manhandled media persons covering the wedding events of Indian cricketer Harbhajan Singh and his actress bride Geeta Basra

    4 Bouncers Held For Manhandling Media Persons At Harbhajan Singh's Wedding

    Ex-Akali Leader Balwant Singh Ramoowalia Joins Up Cabinet, Party Calls It Betrayal

    Ex-Akali Leader Balwant Singh Ramoowalia Joins Up Cabinet, Party Calls It Betrayal
    Punjab's ruling Shiromani Akali Dal on Saturday accused its former senior leader Balwant Singh Ramoowalia of "betrayal" and dubbed him "power hungry" after he was sworn in as a cabinet minister in Uttar Pradesh.

    Ex-Akali Leader Balwant Singh Ramoowalia Joins Up Cabinet, Party Calls It Betrayal

    Indian men feel fasting for wife strengthens bond: Survey

    Indian men feel fasting for wife strengthens bond: Survey
    New Delhi: Married Indian men are willing to fast for their wife to celebrate and share the experience together, according to a survey coinciding with Karva Chauth, when mostly Hindu women in north India fast for their husband's long life.

    Indian men feel fasting for wife strengthens bond: Survey