India has slipped 13 positions (now at 64) in Forbes’ ranking of best countries for businesses.
Top 5 List for 2008:
- Denmark, which rose three slots from last year,
- Ireland (up 19 places to No. 2),
- Finland (up four to third place),
- U.S. (down three to fourth) and
- U.K. (up five to fifth).
Big movers like Ireland, Estonia (No. 10, up 24 spots) and Saudi Arabia (No. 47, up 37) have limited bureaucracy standing in the way of entrepreneurs hoping to do business within their borders.
India (No. 64, down 13) and China (No. 79, down two) fell in this year’s ranking as political instability demonstrated resistance to increasing personal freedoms. Higher inflation from food and other commodity costs, as well as increased burdens on entrepreneurs also held the world’s most populous nations back as business destinations. [forbes]
Tata Nano (or NoNo?) Plant
What’s your take?
Earlier, we covered the global competitiveness index (and India’s missing presence in the top 20 list).
* For the study, Forbes used it’s expertise, research and published reports from the Heritage Foundation, World Economic Forum, World Bank, Transparency International, Freedom House, Deloitte Tax, the US Chamber of Commerce and Central Intelligence Agency and their vital analyses of various socioeconomic indicators on the countries included.
Its easy to guess why Saudi Arabia has shot up in the index.. they are capitalizing on the Oil Boom. While the rest of the world is facing an economic slowdown, the oil producing countries are trying to outdo each other in economic growth!
Of course, this theory doesn’t apply to Ireland, Finland and UK..
Inflation is a definite cause of such a drop…
Yes , I agree with the word called inflation , also this is the right time to make some money from the carious online sites of US .. so that india will be rich soon ,,