India ranks 71 on WEF trade index
India has been ranked 71 among 118 countries in a list prepared by the WEF for measuring openness to international trade.
By ET Bureau |
NEW DELHI: India has been ranked 71 among 118 countries in a list prepared by the World Economic Forum (WEF) for measuring openness to international trade.
The poor show in the enabling trade index (ETI) of WEF���s Global Enabling Trade Report 2008 has been largely attributable to tariff barriers and ���severely restricted��� market access.
The country was ranked 105 in terms of market access, below neighbours Pakistan, Bangladesh and Sri Lanka. And despite autonomously bringing down average tariff on industrial goods to 10% and agriculture to about 33%, India was at the bottom of the pile in the category of tariff barriers with a rank of 115. Only three countries were below India in this segment.
The ETI, released on Wednesday as part of WEF���s inaugural report, is based on four sub-indices which include market access, border administration, transport and communication infrastructure, and business environment. India got much higher ratings in the indices other than market access. India was ranked 52 in infrastructure, 55 in border administration and 58 in business environment.
The top place in the overall index went to Hong Kong, which was also ranked first in market access. It was followed by Singapore. The two Asian countries were followed by Sweden, Norway, Canada, Denmark and Finland. The US was ranked 14 and the UK was at 16th spot in the overall index. Some notable countries below India in the overall index include Brazil (80), Pakistan (84) and Russia (103).
���The principal aim of this report is to measure the extent to which countries around the world have in place the factors and policies for enabling trade,��� the WEF said.
Another area where India performed poorly was airport density where it was ranked 117. In road congestion, the country was ranked third.
The poor show in the enabling trade index (ETI) of WEF���s Global Enabling Trade Report 2008 has been largely attributable to tariff barriers and ���severely restricted��� market access.
The country was ranked 105 in terms of market access, below neighbours Pakistan, Bangladesh and Sri Lanka. And despite autonomously bringing down average tariff on industrial goods to 10% and agriculture to about 33%, India was at the bottom of the pile in the category of tariff barriers with a rank of 115. Only three countries were below India in this segment.
The ETI, released on Wednesday as part of WEF���s inaugural report, is based on four sub-indices which include market access, border administration, transport and communication infrastructure, and business environment. India got much higher ratings in the indices other than market access. India was ranked 52 in infrastructure, 55 in border administration and 58 in business environment.
The top place in the overall index went to Hong Kong, which was also ranked first in market access. It was followed by Singapore. The two Asian countries were followed by Sweden, Norway, Canada, Denmark and Finland. The US was ranked 14 and the UK was at 16th spot in the overall index. Some notable countries below India in the overall index include Brazil (80), Pakistan (84) and Russia (103).
���The principal aim of this report is to measure the extent to which countries around the world have in place the factors and policies for enabling trade,��� the WEF said.
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Another area where India performed poorly was airport density where it was ranked 117. In road congestion, the country was ranked third.
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