In the Forbes’ list of the ‘Best Countries for Business 2014‘, India ranks 93 out of 146 nations. The report cited that challenges like violence and discrimination against women and girls, poverty, corruption, and inefficient power generation and distribution system need to be addressed.
Denmark topped the Forbes’ ranking of the Best Countries for Business, followed by Hong Kong, New Zealand, Ireland and Sweden. The US ranks 18th in the Forbes list, down four spots from last year.
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.
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.
Third in market performance index and Seventh on investor protection.
Forbes determined the ‘Best Countries for Business’ by grading 146 nations on 11 different factors of property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.