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Wednesday, February 7, 2018

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.

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.

Source: Business Standard