According to the US News & World Report’s overall Best Countries 2022 ranking, India has bagged the 31st rank among 85 countries. Switzerland has topped the list followed by Germany and Canada.
- Best Countries 2022 is the 7th edition of the analysis released by US News & World Report.
- India has topped the list of nations with the cheapest manufacturing costs by global survey respondents, followed by China and Vietnam. The factors into the Best Countries rankings and Open for Business sub ranking.
Key Points:
i.Under the open for business sub ranking, India scored 100% in cheap manufacturing costs but has scored only 16.2 under ‘favourable tax environment, 18.1 in the ‘not corrupt’ category and 3.5 in ‘transparent government policies.
ii.Under the quality of life category, India has scored 1.9 in ‘income equality’; 4.3 in ‘safe’; 2.3 in ‘well-developed public health system’; and 9.9 in ‘economically stable’ sub-parameter.
iii.The government of India has taken several measures to roll out production-linked incentive schemes and reduce the compliance burden with an aim to make India a global manufacturing hub.
About the Report:
The report evaluates 85 countries across 73 attributes which are grouped into 10 sub-categories, including adventure, agility, entrepreneurship, open for business, social purpose and quality of life.
Top 5 and India on Best Countries 2022:
| Rank | Country |
|---|---|
| 31 | India |
| 1 | Switzerland |
| 2 | Germany |
| 3 | Canada |
| 4 | United States of America |
| 5 | Sweden |
Highlights:
i.The United States of America(USA)(ranked 4th) among the top 5 has topped several sub-ranking lists. The USA topped the power and agility ranking and secured 2nd spot for entrepreneurship and 3rd for cultural influence.
ii.Among the top 50 countries on the 2022 ranking, Russia(ranked 36) faced the most significant decline (-12) in the history of this ranking.
iii.Belarus(ranked 85th) became the lowest-ranked country on the list while Uzbekistan and Iran ranked 84th and 83rd respectively.
iv.The 3 allies of Russia, Belarus, Kazakhstan and Uzbekistan, dropped around 10 places each.
Recent Related News:
According to the Commitment to Reducing Inequality Index 2022 (CRI Index) (4th Edition), India has climbed six places to rank 123 out of 161 countries for reducing inequality but continues to perform low in health spending.
- The CRI Index is a collaboration between Development Finance International (DFI) and Oxfam International.
- The CRI Index 2022 is topped by Norway, followed by Germany and Australia.
About U.S. News & World Report:
Executive Chairman & Chief Executive Officer– Eric Gertler
Headquarters– Washington, D.C., United States of America
