An overview of Forbes
- B.C. Forbes and his partner Walter Drey, the general manager of the Magazine of Wall Street, founded Forbes magazine in 1917.
- The magazine has grown to become one of the most trusted brands for financial and entrepreneurial analysis.
- Forbes publishes annual rankings and indices about people, countries, sports and education.
- Their annual list on Richest People in the World is the most popular.
The Best Countries to do Business list
- This list has been published by Forbes since 2005.
- Forbes uses open source data to rate countries on 11 factors: property rights, innovation, taxes, technology, corruption, freedom, red tape, investor protection and stock market performance.
- Sources including the World Bank, the World Economic Forum, Transparency International, Bloomberg and the CIA World Fact-book are used to analyze and weigh each of these factors equally.
Other countries in the Forbes list
Denmark was ranked #1 for the second year in succession. USA dropped four spots to #22 and China marked an improvement, jumping to #94 after being ranked #97 in 2013 and 2014.
A slide down from 2014
- India's rank on the Forbes Best Countries to do Business list in 2013 was #98.
- Forbes cited many challenges that India has yet to fully address, including poverty, corruption, violence and discrimination against women.
- In 2014, India marked a marginal improvement at #93.
- Forbes stated that while systemic challenges still remain, India's young population gives the country a more positive outcome.
Other Rankings in 2015
- India performed fairly well in other categories in 2015.
- India was ranked #8 in investor protection, #41 in innovation and #57 in personal freedom.
- India scored relatively worse in other categories, ranking #125 on trade freedom and #139 on monetary freedom.
- It also ranked #120 in technology, #77 on corruption and #123 on red tape.
Forbes' rationale for India's position
- Forbes said India was yet to overcome various challenges such as decades-long civil litigation dockets, inadequate transport and agricultural infrastructure and limited non-agricultural employment opportunities.
- According to Forbes data, growth in 2014 fell to a decade low, as India's economic leaders "struggled to improve the country's wide fiscal and current account deficits".
- However, they added that global investor perception of India is improving gradually.
India ranked 97th best country to business
17 Dec 2015
- In a blow to Narendra Modi's pitch to make India a global business hub, Forbes' annual list of best countries in the world to do business has ranked India at a low 97 out of 144 countries indexed.
- India trails behind Mexico (53), Kazakhstan (57), Zambia (73), Ghana (79) and Sri Lanka (91).
- In consolation, however Forbes said India's investor perception was improving.
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