Close X
Wednesday, November 6, 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

    Now, 53 historians protest against 'highly vitiated' atmosphere in India

    Now, 53 historians protest against 'highly vitiated' atmosphere in India
    New Delhi: After writers and artistes, 53 historians on Thursday protested against the 'rising intolerance' and "highly vitiated atmosphere in the country, characterised by various forms of intolerance".

    Now, 53 historians protest against 'highly vitiated' atmosphere in India

    Congress questions BJP, AAP on Chautala parole issue

    Congress questions BJP, AAP on Chautala parole issue
    The Congress on Thursday questioned both the BJP and Aam Aadmi Party (AAP) on the issue of the parole plea of former Haryana Chief Minister Om Prakash Chautala and alleged moves to transfer him to Bathinda jail in Punjab.

    Congress questions BJP, AAP on Chautala parole issue

    Taj Mahal More Stunning Than I Expected: Mark Zuckerberg

    Taj Mahal More Stunning Than I Expected: Mark Zuckerberg
    Social networking giant Facebook's founder Mark Zuckerberg on Tuesday visited the Taj Mahal in Uttar Pradesh's Agra city and said: "It is even more stunning than I expected."

    Taj Mahal More Stunning Than I Expected: Mark Zuckerberg

    President Calls Geeta 'Symbol Of India-Pakistan Unity'

    President Calls Geeta 'Symbol Of India-Pakistan Unity'
    A Rashtrapati Bhavan statement said Mukherjee blessed Geeta, a Hindu who strayed into Pakistan when she was around 11 years old in 2003. Pakistan Rangers promptly handed her over to the Edhi Foundation that took care of her since then.

    President Calls Geeta 'Symbol Of India-Pakistan Unity'

    Man Found Guilty Of Robbing, Raping, Killing Andhra Techie

    Man Found Guilty Of Robbing, Raping, Killing Andhra Techie
    A court here on Tuesday convicted a 39-year old man of robbing, raping, burning and killing a techie from Andhra Pradesh in January last year.

    Man Found Guilty Of Robbing, Raping, Killing Andhra Techie

    'Beef' Row: Police 'Raid' On Kerala House Triggers Political Storm

    'Beef' Row: Police 'Raid' On Kerala House Triggers Political Storm
    After calling the police action "unwarranted and unfortunate", Kerala Chief Minister Oommen Chandy wrote to Prime Minister Narendra Modi seeking action against Delhi Police.

    'Beef' Row: Police 'Raid' On Kerala House Triggers Political Storm