Davos, Jan 28: India has been ranked 24th among the 35 major economies for transparency in business, with Singapore getting the pride of place as the most transparent to do business in the world and China last in the list handicapped by "opaque" regulations and confusing producers, according to a new report.The new study by PricewaterhouseCoopers presented at the annual meeting of the World Economic Forum here showed that the US and Chile were tied at the second place.
The most "opaque" place to operate on the globe is China followed by Russia, Indonesia and Turkey in that order, the study said.
The study came out with a "opacity index" ratings for countries based on legal, regulatory, economy and accounting practices and corruption problems, the five different measures of transparency for businesses.
India was in the middle of the pack with a rating of 64, while Singapore had 29 and China, on the other extreme, had a score of 87. The study also took into account the cost of capital due to lack of clear, accurate, formal and widely accepted practices.
(PTI)
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