Denmark occupied the first position in Forbes’9th annual ranking of the Best Countries for Business.
India has been ranked 93rd in Forbes' list of the best countries for business this year owing to the major challenges like poverty and corruption, as reported by PTI.
Denmark occupied the first position in Forbes’9th annual ranking of the Best Countries for Business followed by Hong Kong, New Zealand, Ireland and Sweden.
Forbes said, “The US lags behind many other developed nations when it comes to its business climate, and the gap is growing. The US ranks 18th in the Forbes list, down four spots from last year. It marks the fifth straight year of declines since 2009, when the US ranked second.”
Expressing concerns over India’s position, Forbes said that while the country is developing into an open-market economy, traces of its past autarkic policies still remain.
"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," it said.
There are some crucial challenges which India has yet address in order to improve its global position- 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.
Fiscal and current account deficits also led to fall in position of India. Growing macroeconomic imbalances in India and improving economic conditions in Western countries drove investors to shy away from India.
Forbes said, “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 stabilisation of the rupee.”
Business Opportunities
Our Group Sites
Popular Cities
