India ranks 97th on Forbes’ best countries for business list

December 17, 2015

New York, Dec 17: India has been ranked a low 97th out of 144 nations, behind Kazakhstan and Ghana, on Forbes’ annual list of the best countries for doing business in 2015, scoring poorly on metrics like trade and monetary freedom and tackling challenges like corruption and violence.

Forbes
Denmark topped the list of the 144 nations on the Best Countries of Business in 2015 list by Forbes.

The US has dropped four spots to number 22, continuing a six-year descent since 2009 when it had ranked second overall.

The US is the financial capital of the world and its largest economy at USD 17.4 trillion (China is second at USD 10.4 trillion), but it scores poorly on monetary freedom and bureaucracy/red tape, Forbes said.

India is ranked 97th on the list, with Forbes saying that while the country is developing into an open-market economy, traces of its “past autarkic policies” remain.

“The outlook for India’s long-term growth is moderately positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

“However, India has many challenges that it has yet to fully address, including poverty, corruption, violence and discrimination against women and girls, an inefficient power generation and distribution system, ineffective enforcement of intellectual property rights, decades-long civil litigation dockets, inadequate transport and agricultural infrastructure, limited non-agricultural employment opportunities,” Forbes said.

The publication added that India faces other challenges like high spending and poorly-targeted subsidies, inadequate availability of quality basic and higher education, and accommodating rural-to-urban migration.

Forbes further said that growth in India last year fell to a decade low, as its economic leaders struggled to improve the country’s wide fiscal and current account deficits.

“However, investors’ perceptions of India improved in early 2014, due to a reduction of the current account deficit and expectations of post-election economic reform, resulting in a surge of inbound capital flows and stabilisation of the rupee,” it said.

The country performed moderately well on certain factors, ranking eighth on investor protection, 41st on innovation, 57th on personal freedom and 61st on property rights.

It scored low on trade freedom, ranking 125th and on monetary freedom it ranked 139th. On technology it ranked 120th, 77th on corruption and 123rd on red tape.

The United Kingdom and Japan both moved up three spots to No 10 and No 23 respectively. Germany improved two places to No 18 and China rose from No 97 to No 94.

South Africa is ranked 47th on the list followed by Mexico (53), Kazakhstan (57), Zambia (73), Ghana (79), Russia (81), Sri Lanka (91), Pakistan (103) and Bangladesh (121).

The very bottom of the list features a number of emerging markets restrained by high levels of corruption and little freedom.

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News Network
May 17,2024

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In scorching heat on a busy Kolkata street last month, commuters sought refuge inside a glass-walled bus shelter where two air conditioners churned around stifling air. Those inside were visibly sweating, dabbing at their foreheads in sauna-like temperatures that were scarcely cooler than out in the open.

Local authorities initially had plans to install as many as 300 of the cooled cabins under efforts to improve protections from a heat season that typically runs from April until the monsoon hits the subcontinent in June. There are currently only a handful in operation, and some have been stripped of their AC units, leaving any users sweltering.

“It doesn’t work,” Firhad Hakim, mayor of the city of 1.5 crore, said on a searing afternoon when temperatures topped 40C. “You feel suffocated.”

Attempts in Kolkata and across India to improve resilience to extreme heat have often been equally ill-conceived, despite a death toll estimated at more than 24,000 since 1992. Inconsistent or incomplete planning, a lack of funding, and the failure to make timely preparations to shield a population of 140 crore are leaving communities vulnerable as periods of extreme temperatures become more frequent, longer in duration and affect a wider sweep of the country.

Kolkata, with its hot, humid climate and proximity to the Bay of Bengal, is particularly vulnerable to temperature and rainfall extremes, and ranked by the Intergovernmental Panel on Climate Change as among the global locations that are most at risk.

An increase in average global temperatures of 2C could mean the city would experience the equivalent of its record 2015 heat waves every year, according to the IPCC. High humidity can compound the impacts, as it limits the human body’s ability to regulate its temperature.

Even so, the city — one of India's largest urban centres — still lacks a formal strategy to handle heat waves.

Several regions across India will see as many as 11 heat wave days this month compared to 3 in a typical year, while maximum temperatures in recent weeks have already touched 47.2C in the nation’s east, according to the Indian Meteorological Department. Those extremes come amid the Lok Sabha election during which high temperatures are being cited as among the factors for lower voter turnout.

At SSKM Hospital, one of Kolkata’s busiest, a waiting area teemed last month with people sheltering under colorful umbrellas and thronging a coin-operated water dispenser to refill empty bottles. A weary line snaked back from a government-run kiosk selling a subsidized lunch of rice, lentils, boiled potato and eggs served on foil plates.

“High temperatures can cause heat stroke, skin rashes, cramps and dehydration,” said Niladri Sarkar, professor of medicine at the hospital. “Some of these can turn fatal if not attended to on time, especially for people that have pre-existing conditions.” Extreme heat has an outsized impact on poorer residents, who are often malnourished, lack access to clean drinking water and have jobs that require outdoor work, he said.

Elsewhere in the city, tea sellers sweltered by simmering coal-fired ovens, construction workers toiled under a blistering midday sun, and voters attending rallies for the ongoing national elections draped handkerchiefs across their faces in an effort to stay cool. The state government in April advised some schools to shutter for an early summer vacation to avoid the heat.

Since 2013, states, districts and cities are estimated to have drafted more than 100 heat action plans, intended to improve their ability to mitigate the effects of extreme temperatures. The Centre set out guidelines eight years ago to accelerate adoption of the policies, and a January meeting of the National Disaster Management Authority pledged to do more to strengthen preparedness.

The absence of such planning in Kolkata has also meant a failure to intervene in trends that have made the city more susceptible.

Almost a third of the city’s green cover was lost during the decade through 2021, according to an Indian government survey. Other cities including Mumbai and Bengaluru have experienced similar issues. That’s combined with a decline in local water bodies and a construction boom to deliver an urban heat island effect, according to Saira Shah Halim, a parliamentary candidate in the Kolkata Dakshin electoral district in the city’s south. “What we’re seeing today is a result of this destruction,” she said.

Hakim, the city’s mayor, disputes the idea that Kolkata’s preparations have lagged, arguing recent extreme weather has confounded local authorities. “Such a kind of heat wave is new to us, we’re not used to it,” he said. “We’re locked with elections right now. Once the elections are over, we’ll sit with experts to work on a heat action plan.”

Local authorities are currently ensuring adequate water supplies, and have put paramedics on stand-by to handle heat-induced illnesses, Hakim said.

Focusing on crisis management, rather than on better preparedness, is at the root of the country’s failings, according to Nairwita Bandyopadhyay, a Kolkata-based climatologist and geographer. “Sadly the approach is to wait and watch until the hazard turns into a disaster,” she said.

Even cities and states that already have heat action plans have struggled to make progress in implementing recommendations, the New Delhi-based think tank Centre for Policy Research said in a report last year reviewing 37 of the documents.

Most policies don’t adequately reflect local conditions, they often lack detail on how action should be funded and typically don’t set out a source of legal authority, according to the report.

As many as 9 people have already died as a result of heat extremes this year, according to the meteorological department, though the figure is likely to significantly underestimate the actual total. That follows about 110 fatalities during severe heat waves during April and June last year, the World Meteorological Organization said last month.

Even so, the handling of extreme heat has failed to become a “political lightning rod that can stir governments into action,” said Aditya Valiathan Pillai, among authors of the CPR study and now a fellow at New Delhi-based Sustainable Futures Collaborative.

Modi's government has often moved to contain criticism of its policies, and there is also the question of unreliable data. “When deaths occur, one is not sure whether it was directly caused by heat, or whether heat exacerbated an existing condition,” Pillai said.

In 2022, health ministry data showed 33 people died as a result of heat waves, while the National Crime Records Bureau – another agency that tracks mortality statistics – reported 730 fatalities from heat stroke.

Those discrepancies raise questions about a claim by the Centre that its policies helped cut heat-related deaths from 2,040 in 2015 to 4 in 2020, after national bureaucrats took on more responsibility for disaster risk management.

Local officials in Kolkata are now examining potential solutions and considering the addition of more trees, vertical gardens on building walls and the use of porous concrete, all of which can help combat urban heat.

India’s election is also an opportunity to raise issues around poor preparations, according to Halim, a candidate for the Communist Party of India (Marxist), whose supporters carry bright red flags at campaign events scheduled for the early morning and after sundown to escape extreme temperatures.

“I’m mentioning it,” she said. “It’s become a very, very challenging campaign. The heat is just insufferable.”

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News Network
May 14,2024

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Comedian Shyam Rangeela on Tuesday that he was barred from filing his nomination papers for the 2024 Lok Sabha Elections. He intended to challenge Prime Minister Narendra Modi from the Varanasi seat by contesting as an Independent candidate.

Despite attempts to file his papers since May 10, Rangeela alleged he was denied entry to the district magistrate's office on the day Prime Minister Modi filed his nomination. He also said that he is not taking any team from Sriganganagar to contest the Lok Sabha elections in Varanasi. 

Shyam Rangeela further claimed that he has received several phone calls from Varanasi and people are willing to join him. "Winning or losing is a different matter, but I will contest the elections against the Prime Minister at any cost. I am not contesting elections to become famous, I am already very famous among the public."

The Congress party also waded into the controversy. Congress leader Surendra Rajput told news agency PTI that everyone is free to file a nomination including Prime Minister Modi. Rajput claimed that Rangeela was not getting nomination papers from the administration. 

"Everyone is free to file a nomination including PM Modi. However, other people are not allowed to file their nominations from the constituency. A YouTuber named (Shyam) Rangeela, who wished to file a nomination from Varanasi, isn’t getting nomination papers from the administration. Why PM Modi is afraid of people? Let them contest against you," he said. 

PM Modi, contesting for a third term, previously won the Varanasi seat by 4.8 lakh votes in 2019 and by 3.72 lakh votes in 2014. So far, 14 individuals, including mainstream political party candidates and independents, have filed their nominations for the Varanasi constituency.

Congress candidate Ajai Rai and Bahujan Samajwadi Party's Athar Ali Lari are among them. Rangeela, a YouTuber and mimic from Rajasthan’s Hanumangarh, rose to fame in 2017 with his act impersonating PM Modi. He has been critical of the Prime Minister and his policies, as evident in his videos.
 

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News Network
May 17,2024

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New Delhi: In fresh claim, Prime Minister Narendra Modi on Friday said that his government sent an envoy to Israel urging them to stop the airstrike in Gaza during Ramadan. He said that he urged Israel to maintain peace rather than engage in combat during the holy month.

In an interview with Aaj Tak, PM Modi said that his envoy told Israel they should not bomb Gaza, at least during the auspicious month of Ramadan.

"During the month of Ramadan, I sent my special envoy to Israel to meet and explain to Prime Minister (Benjamin Netanyahu) that he should not carry out bombings in Gaza during Ramadan. They made every effort to follow it, but in the end, there was a fight for 2-3 days," he said.

The Prime Minister said that he does not publicise such things even though people in India keep "cornering him on the Muslims issue".

PM Modi said that some other countries also tried to speak to Israel to halt the bombings and may have also achieved results.

"They may have got the results too. I also tried," he said.

During the interview, PM Modi also said that he made standalone visits to both Israel and Palestine, unlike earlier governments which used to display token secularism.

"There was a fashion earlier that if one has to go to Israel, a visit to Palestine is a must. Do secularism and come back. But I refused to do it," he said.

The Prime Minister also recounted an episode when he needed to travel to Palestine via Jordan.

"When the President of Jordan, who is a direct descendent of Prophet Muhammad, came to know that I am going to Palestine over (the airspace of Jordan), he told me 'Modi ji, you cannot go like this. You are my guest and will use my helicopter'," Modi claimed.

Describing the unique amalgamation of circumstances, he continued, "I went to his home for dinner, but the helicopter was of Jordan, the destination was Palestine, and I was escorted by Israeli flight attendants. All three are different but for Modi, all came together in the sky."

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