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

    Indian Supreme Court Upholds Vikas Yadav's Conviction In Nitish Katara Murder Case

    Indian Supreme Court Upholds Vikas Yadav's Conviction In Nitish Katara Murder Case
    The Supreme Court on Monday upheld the conviction of Vikas Yadav and Sukhdev Yadav alias Pehlwan in the Nitish Katara murder case but issued notice to the Uttar Pradesh government on the quantum of sentence.

    Indian Supreme Court Upholds Vikas Yadav's Conviction In Nitish Katara Murder Case

    OROP: Two Army Veterans On Fast-Unto-Death

    OROP: Two Army Veterans On Fast-Unto-Death
    Disappointed over the government not announcing implementation of the One Rank, One Pension (OROP) scheme, two ex-servicemen who have been part of a two-month-long protest against the delay began a fast-unto-death here Monday.

    OROP: Two Army Veterans On Fast-Unto-Death

    Congress slams Modi for remarks in UAE on previous governments

    Congress slams Modi for remarks in UAE on previous governments
    The Congress party on Monday criticised Prime Minister Narendra Modi for his remarks during his visit to the UAE about previous governments, saying that he should maintain the dignity of his office.

    Congress slams Modi for remarks in UAE on previous governments

    Modi’s Leap Of Vision: Is India Ready For A Larger Role?

    Modi’s Leap Of Vision: Is India Ready For A Larger Role?
    Will India step in to play a peacemaker role in global hotspots as many countries keep demanding?

    Modi’s Leap Of Vision: Is India Ready For A Larger Role?

    WATCH: PM Modi Exhorts India To 'Start Up, Stand Up', Vows To End Corruption

    WATCH: PM Modi Exhorts India To 'Start Up, Stand Up', Vows To End Corruption
    Modi on Saturday vowed to end corruption, exhorted India to "start up, stand up", didn't announce the eagerly-awaited One Rank One Pension scheme and gave a complete miss to foreign policy.

    WATCH: PM Modi Exhorts India To 'Start Up, Stand Up', Vows To End Corruption

    Arvind Kejriwal Faces Flak As Students Display His Name During Independence Day Ceremony

    Arvind Kejriwal Faces Flak As Students Display His Name During Independence Day Ceremony
    Arvind Kejriwal was on Saturday embroiled in yet another controversy when students who took part in the Independence Day ceremony, formed his name with placards instead of patriotic messages.

    Arvind Kejriwal Faces Flak As Students Display His Name During Independence Day Ceremony