India is the fastest improving economy in BRICS: PHD Chamber

India is the fastest improving economy in BRICS: PHD Chamber

India is the fastest improving economy in BRICS: PHD Chamber

No.PR-145

January 25, 2018

New Delhi

India is the fastest improving economy in BRICS: PHD Chamber

While appreciating the dynamic reforms undertaken by the Government, Shri Anil Khaitan, President, PHD Chamber of Commerce and Industry said that India has become the fastest improving economy in all the BRICS countries.

India stands at first position in terms of overall improvement in rankings of Ease of Doing Business Index, Logistics Performance Index, Global Innovation Index, Global Retail Development Index, Global Competitiveness Index and Global Gender Gap Index according to an analysis undertaken by PHD Research Bureau, the research arm of PHD Chamber of Commerce and Industry. This is followed by Russia and China at second position, Brazil at 3rd position and South Africa at 4th position.

India has made significant improvement in the ease of doing business ranking from 130th position in 2017 to 100th position in 2018. On account of this momentous improvement, India has been able to secure first rank among BRICS economies, said Mr. Anil Khaitan, President, PHD Chamber of Commerce and Industry. 

In terms of Ease of Doing Business 2018 rankings among BRICS, Russia ranks at the highest position at 35th, followed by China at 78th position, South Africa at 82nd position, India at 100th position and Brazil at 125th position. The significant improvement as compared to last year’s ranking has been made by India by 30 positions.

Logistics Performance Index ranking in 2016 amongst BRICS economies reveals that South Africa’s is comparatively the best performer on this index standing at 20th position, followed by China at 27th rank, India at 35th rank, Brazil at 55th position and Russia at 99th position. The significant improvement as compared to last year’s ranking among BRICS has been made by India by 19 positions.                                          

Among BRICS, China’s position is better in terms of Global Innovation Index 2017 which stands at 22nd rank, followed by Russia at 45th rank, South Africa at 57th rank, India at 60th rank and Brazil’s stands at 69th rank. The significant improvement as compared to last year’s ranking has been made by India which improved up by 6 ranks.

                                           Rankings of BRICS economies

S.No

Index

Ranking

Improvement in Ranking

(A-B)

 

1

Ease of doing business Index

Doing Business 2017  Ranking

(A)

Doing Business 2018 Ranking

(B)

Change in rankings (A-B)

Brazil

123

125

-2

Russia

40

35

5

India

130

100

30

China

78

78

0

South Africa

74

82

-8

 

2

Logistics Performance Index

Ranking in 2014 (A)

Ranking in 2016 (B)

Change in rankings (A-B)

Brazil

65

55

10

Russia

90

99

-9

India

54

 35

19

China

28

27

1

South Africa

34

20

14

 

3

Global Innovation Index

Ranking in 2016 (A)

Ranking in 2017 (B)

Change in rankings (A-B)

Brazil

69

69

0

Russia

43

45

-2

India

66

60

6

China

25

22

3

South Africa

54

57

-3

         

4

Global Retail Development Index

Ranking in 2016 (A)

Ranking in 2017 (B)

Change in rankings (A-B)

Brazil

20

29

-9

Russia

22

22

0

India

2

1

1

China

1

2

-1

South Africa

27

26

1

 

       

5

Global Competitiveness

Index

Ranking in 2016-17 (A)

Ranking in 2017-18 (B)

Change in rankings (A-B)

Brazil

81

80

1

Russia

43

38

5

India

39

40

-1

China

28

27

1

South Africa

47

61

-14

 

6

Global Gender Gap Index

Ranking in 2016 (A)

Ranking in 2017 (B)

Change in rankings (A-B)

Brazil

79

90

-11

Russia

75

71

4

India

87

108

-21

       

China

99

100

-1

South Africa

15

19

-4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: PHD Research Bureau compiled from various sources. Improvement in ranking: Positive data indicates an improvement and negative data indicates a decline in ranking.  Ease of Doing Business ranking is out of 190 economies released by World Bank. Logistics Performance Index ranking for 2016 and 2014 is out of 160 economies released by World Bank. Global Innovation Index Ranking is out of 128 economies in 2016 and raking is out of 127 economies for 2017 released by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO) as co-publishers, and their Knowledge Partners. Global Retail Development Index ranking for the year 2016 and 2017 is out of top 30 developing countries by ATKearney. Global Competitiveness Index 2017-18 ranking is out of 137 economies and for 2016-17, it is out of 138 economies. Global Gender Gap Index ranking for 2017and 2016 is out of 144 released by World Economic Forum.

While, in terms of Global Retail Development Index 2017 ranking among BRICS, India outperformed by standing at the first position, followed by China at 2nd position, Russia at 22nd position, South Africa at 26th position and Brazil at 29th position.

In terms of Global Competitiveness Index 2017-18, among BRICS, China stands relatively at better rank at 27th position, followed by Russia at 38th position, India at 40th position, South Africa at 61st position and Brazil at 80th position. The significant improvement as compared to last year’s ranking has been made by Russia which improved up by 5 ranks. 

As per Global Gender Gap index ranking for 2017 for BRICS economies states that South Africa’s position in terms of Gender parity is comparatively better as its ranks stands at 19th position, followed by Russia at 71st position, Brazil at 90th position, China at 100th position and India at 108th position.

 

    Rankings as per Improvement in Global Indices over last year

Index

Improvement in ranking

Brazil

Russia

India

China

South Africa

Ease of doing business Index    

-2

5

30

0

-8

Logistics Performance Index

10

-9

19

1

14

Global Innovation Index

0

-2

6

3

-3

Global Retail Development Index

-9

0

1

-1

1

Global Competitiveness  Index

1

5

-1

1

-14

Global Gender Gap Index

-11

4

-21

-1

-4

Total Improvement Score

-11

3

34

3

-14

Overall Rankings as per improvement score

3

2

1

2

4

Source: PHD Research Bureau compiled from various sources. Note: Improvement has been calculated on the basis of latest year ranking over last year’s ranking.

 

We expect India’s ranking within the 50 in the next few years supported by the more and more reforms in the ease of doing business, said Mr. Anil Khaitan

 

There is a need to undertake reforms in promoting and facilitating starting a business along with getting the construction permits, added Mr. Khaitan.

Ends.

Koteshwar Prasad Dobhal

Consultant (PR)