Forbes 9th annual ranking of the Best Countries for Business has placed India on 93rd position out of 146 nations.
The main reason India is placed at lower rank is due many challenges that needs to be fully addressed like poverty, corruption, violence and discrimination against women and girls, an inefficient power generation and distribution system, ineffective enforcement of intellectual property rights and decades-long civil litigation dockets.
Every year Forbes determines the Best Countries for Business by grading 146 nations on 11 different factors such as property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.
This year among various factors, India has ranked:
122 on the trade freedom index, 135 in monetary freedom, 120 in technology, 122 in tax burden, 128 in red tape, 78 in corruption parameter and 55 on property rights.
Best performance: 3rd in market performance index and 7th on investor protection.
- Top 5: Denmark (1st), Hong Kong (2nd), New Zealand (3rd), Ireland (4th), Sweden (5th).
- Bottom 5: Guinea (146th), Chad (145th), Libya (144th), Myanmar (143rd), Haiti (142th).
- India’s Neighbours: Sri Lanka (89th), China (97th), Pakistan (105th), Bangladesh (107th), Bhutan (110th), Nepal (113th), Afghanistan (NA).