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

    Saudi Diplomat Accused Of Rape Leaves India

    Saudi Diplomat Accused Of Rape Leaves India
    The Saudi Arabian diplomat accused of rape by two Nepalese women has left India, an official said on Wednesday.

    Saudi Diplomat Accused Of Rape Leaves India

    Dengue Kills Three More In Delhi, Kejriwal Government Caps Tests At Rs.600

    Dengue Kills Three More In Delhi, Kejriwal Government Caps Tests At Rs.600
    Dengue claimed the lives of three more people in the national capital -- a 41-year-old woman, a seven-year-old boy and a 14-year-old -- taking the toll to 16, even though officially the toll stayed at five.

    Dengue Kills Three More In Delhi, Kejriwal Government Caps Tests At Rs.600

    Another Child Dies Of Dengue, Delhi Mulls Law To Tackle Hospital Apathy

    Another Child Dies Of Dengue, Delhi Mulls Law To Tackle Hospital Apathy
    The Delhi government on Tuesday also issued instructions to schools to ensure that for the next one month students come to classes wearing clothes which fully cover them irrespective of school uniforms.

    Another Child Dies Of Dengue, Delhi Mulls Law To Tackle Hospital Apathy

    Alleged ISIS Recruiter Sent To Police Custody

    Alleged ISIS Recruiter Sent To Police Custody
    A city court on Tuesday sent alleged ISIS recruiter Afsha Jabeen alias Nicky Joseph to police custody for 10 days.

    Alleged ISIS Recruiter Sent To Police Custody

    India's Victory In 1965 War 'Indisputable': Indian Ministers

    India's Victory In 1965 War 'Indisputable': Indian Ministers
    Defence Minister Manohar Parrikar and Finance Minister Arun Jaitley on Tuesday said that the country's victory in the 1965 India-Pakistan war was "indisputable".

    India's Victory In 1965 War 'Indisputable': Indian Ministers

    Gujarat Ranked Best Indian State For Business By World Bank

    World Bank has ranked Gujarat as the top state in ease of doing business in India with a 71.14 percent score, followed by Andhra Pradesh (70.12 percent), Jharkhand, Chhattisgarh and Madhya Pradesh among the top five states.

    Gujarat Ranked Best Indian State For Business By World Bank