Close X
Saturday, November 23, 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

    Watch Confessions Of A Killer Cop Gurmeet Singh Pinky

    Watch Confessions Of A Killer Cop Gurmeet Singh Pinky
    Recruited as a constable in the Punjab Police in 1987, Gurmeet Singh Pinky rose steadily through the ranks in the next few years, his speciality being encounter killings

    Watch Confessions Of A Killer Cop Gurmeet Singh Pinky

    Watch: Massive Landslide In Manali, National Highway Blocked

    Watch: Massive Landslide In Manali, National Highway Blocked
    No casualties were reported even though vehicles were moving on the busy highway, police officials said.

    Watch: Massive Landslide In Manali, National Highway Blocked

    Parkash Singh Badal, 88: India's Oldest Chief Minister Is Active As Ever

    Parkash Singh Badal, 88: India's Oldest Chief Minister Is Active As Ever
    Parkash Singh Badal, India's oldest chief minister, turns 88 on Tuesday but shows no sign of tiredness or any intention of retiring any time soon.

    Parkash Singh Badal, 88: India's Oldest Chief Minister Is Active As Ever

    Sushma Swaraj To Visit Pakistan, Meet Nawaz Sharif

    Sushma Swaraj To Visit Pakistan, Meet Nawaz Sharif
    External Affairs Minister Sushma Swaraj will travel to Pakistan for a regional security conference on Tuesday and also meet Prime Minister Nawaz Sharif there.

    Sushma Swaraj To Visit Pakistan, Meet Nawaz Sharif

    All Vehicles Can Ply On Sundays In Delhi

    All Vehicles Can Ply On Sundays In Delhi
    In contrast to the other six days of the week, all vehicles will be allowed to ply on Delhi's roads on Sundays, PWD Minister Satyendra Jain said on Monday.

    All Vehicles Can Ply On Sundays In Delhi

    Not Election Season But It's Raining Rallies In Punjab

    Not Election Season But It's Raining Rallies In Punjab
    The lead has been taken by the ruling Shiromani Akali Dal, which announced 'Sadbhawna rallies' in Bathinda, Moga, Gurdaspur, Jalandhar, Khadoor Sahib and a 'mega rally' in Patiala.

    Not Election Season But It's Raining Rallies In Punjab