India has been ranked 143 out of 186 economies in the annual Index of Economic Freedom 2017 released by top US based Think Tank, The Heritage Foundation.The Index measures the degree of economic freedom in the countries of the world.
Hong Kong, Singapore and New Zealand are the top three nations in the Index respectively.
India has been placed in the category of “Mostly Unfree” Economies in which the points ranges from 50.0-59.9.
Among South Asian countries, only Afghanistan (163) and Maldives (157) were ranked below India. Nepal (125), Sri Lanka (112), Pakistan (141), Bhutan (107), and Bangladesh (128) surpassed India in economic freedom.
How countries are ranked?
- The Index of Economic Freedom ranks countries based on score ranging 0 to 100, with 0 being the least free and 100 the most free.
- The score is based on ten factors of economic freedom, separated into four categories, using statistics from international organizations like World Bank, IMF, Economist Intelligence Unit and Transparency International.
- Based on the score, countries are grouped in 5 different categories, Free (80–100), Mostly Free (70.0–79.9), Moderately Free (60.0–69.9), Mostly Unfree (50.0–59.9) and Repressed (0–49.9).