India loses on tech; slips to 75: Forbes

Posted By: Staff
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Denmark and the US topping the list as nations Washington, Mar 20: Forbes 'Best Countries For Business' list placed India in the 75th position with'better equipped to bounce back.' India's ranking went down as it slipped in sections like trade freedom, technology, corporate tax rate and corruption.

Canada is rated third after the US followed by Singapore (4), New Zealand (5), UK (6), Sweden (7), Australia (8), Hong Kong (9) and Norway (10). Forbes Magazine noted that Indian economy has posted an average growth rate of more than seven per cent in the decede since 1997, reducing poverty by about 10 pc points. India achieved 8.5 per cent GDP growth in 2006, 9.0 per cent in 2007 and 7.3 per cent in 2008, significantly expanding manufactures through late 2008.

The magazine also added that in the long run the huge and growing population is the fundamental social, economic and environmental problem.

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