The Economist Intelligence Unit (EIU) has released the Business Environment Rankings (BER) 2024.
Key findings
- India is the third most improving country when it comes to the business environment, marked by strides in foreign direct investment policy, foreign trade, exchange controls and the tax regime.
- India, ranked just after Greece and Argentina. The countries are among the places where it expects the most significant policy improvements, infrastructure investment or growth in market opportunities.
- Improvements in these countries’ business environment index may subsequently result in an uptick in per capita growth in real GDP, investment spending and FDI.
- Singapore, Denmark and the US are leaders among the top ten economies with the best business environment over the next five years. Singapore topped the list with a score of 8.56. India ranked 51st with a score of 1.08. However, EIU expects a strong improvement in India in the coming years.
About Business Environment Rankings
- EIU’s ranking of countries by the business environment is a more comprehensive index than the World Bank’s now- discontinued ease of doing business rankings, which was focused on regulatory procedures.
- The ranking assesses the attractiveness of doing business across 82 countries and territories. The index is calculated over a period of time—the previous five years, as well as the next five.
- The EIU’s rankings encompass 91 indicators across 11 categories to provide a comprehensive overview of business conditions worldwide.
- The categories include aspects such as political stability, macroeconomic factors, market opportunities, policy towards free enterprise and competition, as well as tax policies, labour market dynamics, and infrastructure quality. Each indicator is scored for the years 2019–23 and projected for the 2024–28.
(Sources: Mint and Moneycontrol)
