Home Business India jumps 13 places in latest annual Index of Economic Freedom

India jumps 13 places in latest annual Index of Economic Freedom

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India has jumped 13 places in the last one year to 130th spot in the latest annual Index of Economic Freedom released by a top American think-tank the Heritage Foundation. In 2017, India with a score of 52.6 points was ranked at 143 among 180 countries, two spots below neighbour Pakistan.

As per the latest Index of Economic Freedom, China has jumped one spot and Pakistan is now at 131 position. China with 57.4 points was ranked 111 in the 2017.

Noting that India is developing into an open-market economy, the Index said traces of its past autarkic policies still remain.

The report said Economic liberalisation measures, including industrial deregulation, privatisation of state-owned enterprises and reduced controls on foreign trade and investment, that began in the early 1990s, accelerated growth.

The report also mentioned that Corruption, underdeveloped infrastructure, a restrictive and burdensome regulatory environment, and poor financial and budget management continue to undermine overall development.

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