India outperforms China in economic freedom: report

New Delhi, Sept 4 (UNI) Outpacing its neighbour China in terms of economic freedom, India is way ahead in the world rankings that stands at 69th place with 6.6 points out of 10, a report said today.

China with 6.3 points was placed at 86th place in 2005, while Hong Kong and Singapore once again occupy the top two positions, followed by New Zealand, Switzerland, the United States, the United Kingdom, Canada, Estonia, Ireland and Australia.

Releasing the Economic Freedom of the World (EFW) Annual Report 2007, Commerce Minister Kamal Nath said, ''In 1990, India was rated at 4.9 out of 10 and in 2005 it is 6.6. This is one of the largest increase in the last 15 years of any country.'' All these studies help us make reform policy, he told reporters here, adding that without justice sustainable freedom cannot be achieved.

India's overall ranking on the global economic freedom index was 80 in 1990 before economic reforms.

The EFW Report 2007 compared the level of economic freedom in 141 countries. The essential ingredients of economic freedom are personal choice, voluntary exchange, freedom to compete and security of privately-owned property.

UNI