India ranks 105th on the 2020 Global Economic Freedom Index
India ranked 105th on the 2020 Global Index of Economic Freedom. India dropped 26 places from 79th place in last year’s ranking. Hong Kong leads the rankings. It was followed by Singapore.
- The report says growing economic freedom in India depends on next-generation reforms in factor markets and greater openness to international trade.
- Rankings are based on various parameters and scores are given for 10, indicating a higher level of economic freedom.
- India reported a marginal decrease in government size from 8.22 to 7.16, freedom of international trade from 6.08 to 5.71, legal system and property rights from 5.17 to 5.06, and credit, labor, and business regulation from 6.63 to 6.53.
- China ranked 124th according to the ranking.
Top 10 countries:
- Hong Kong
- New Zealand
10 lowest rated countries:
- African Republic
- Democratic Republic of Congo
- Republic of Congo
Economic freedom of the world:
The World Economic Freedom 2020 Annual Report is prepared by the Fraser Institute of Canada. The report was published in India in collaboration with the New Delhi-based Center for Civil Society.