'India ranks a low 40th amongst 50 most dynamic economies'
According to Grant Thornton's Global Dynamism Index (GDI), India was ranked 40th among 50 economies, which were analysed on 22 indicators of dynamism.
They were done across five categories: business operating environment, economics & growth, science & technology, labour & human capital and financing environment. The GDI Index defines dynamism as the changes to the economy which have enabled recovery from the 2008-09 economic recession and are likely to lead to a fast rate of future growth.
Singapore has emerged as the most dynamic economy in the world, followed by Finland in the list, Sweden was ranked third, Israel (fourth), Austria (fifth), Australia (sixth), Switzerland (seventh), Korea (eighth), Germany (ninth) and United States (10th).
However, in terms of economics and growth, India was ranked as high as fifth, behind Argentina, China, Uruguay and Chile.
"Despite recent signs of a slowdown, emerging markets look set to dictate the pace at which the global economy will expand, at least in the medium term.
"Considering the magnitude of economic growth and development in the recent years, the strength of India's economy has become increasingly important to the health of the global economy," Grant Thornton in India National Managing Partner Vishesh Chandiok said.
In terms of other parameters, India fared badly. Out of 50 countries, India was ranked 46
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