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

    Goa Girl Champ Who Doesn't Know She Quizzed Modi On Live TV

    Goa Girl Champ Who Doesn't Know She Quizzed Modi On Live TV
    The 16-year-old does not really know who the bearded, smiling man she spoke to on September 4 on live television really is.

    Goa Girl Champ Who Doesn't Know She Quizzed Modi On Live TV

    Grim Ending On Frigid River Averted Thanks To B.C. Police Dog Named Duke: RCMP

    Grim Ending On Frigid River Averted Thanks To B.C. Police Dog Named Duke: RCMP
    RCMP say a 26-year-old man was reported missing around noon Wednesday while visiting the Othello Tunnels near the community of Hope.

    Grim Ending On Frigid River Averted Thanks To B.C. Police Dog Named Duke: RCMP

    Indian Government Announces 'One Rank One Pension', Veterans Happy But Stir To Continue

    Indian Government Announces 'One Rank One Pension', Veterans Happy But Stir To Continue
    Putting an end to months of speculation, the government on Saturday announced it will be implementing 'One Rank One Pension' (OROP) for the armed forces.

    Indian Government Announces 'One Rank One Pension', Veterans Happy But Stir To Continue

    Mohan Nath Goswami, India's Real-Life Phantom Kills 10 Terrorists In 11 Days, Dies Fighting

    Mohan Nath Goswami, India's Real-Life Phantom Kills 10 Terrorists In 11 Days, Dies Fighting
    Special Forces commando of the Indian Army has created a unique history of valour and dedication to duty by eliminating 10 terrorists in 11 days before laying down his life in service of the nation in the Kashmir Valley

    Mohan Nath Goswami, India's Real-Life Phantom Kills 10 Terrorists In 11 Days, Dies Fighting

    Janmashtami Celebrated With Fervour In Delhi

    Janmashtami Celebrated With Fervour In Delhi
    Delhi was gripped by Janmashtami fervour on Saturday, as the birthday celebrations of the much-loved Hindu deity Lord Krishna began with kirtans (religious songs) at homes and temples.

    Janmashtami Celebrated With Fervour In Delhi

    Panjab University Students Favour Banning Of Cars On Campus

    Panjab University Students Favour Banning Of Cars On Campus
    Students from Panjab University campus have voted in favour of banning entry of cars and other four wheelers in and around the academic areas of the university.

    Panjab University Students Favour Banning Of Cars On Campus