New Delhi, May 3: India has slipped by three spots to move out of the top 10 in the FDI Confidence Index 2018 of global consultancy firm A T Kearney.
According to the report, China (5), India (11), and Singapore (12) all rank lower this year, while Australia rises to 8th and New Zealand jumps to the 16th spot in only its second year on the Index. Japan and South Korea hold steady at 6th and 18th, respectively”.
India falls by three spots, reversing its two-year streak of rising in the rankings,” the report asserted.
It said that India fell out of the top 10 for the first time since 2015. It was ranked 8th last year.
In 2016, India was at the ninth spot.
The consultancy report further said, ” The 2017 nationwide goods and services tax (GST), for example, has faced implementation challenges, and the 2016 demonetisation initiative disrupted business activity and weighed on economic growth”.
About Asia Pacific region, the report said that investor preference for the region appears to have “declined slightly”, adding with only seven Asian nations appearing on this year’s Index.
“The flip side is that this year marks an all-time low for the share of emerging markets on the Index. Just four emerging markets appear among the top 25 countries for FDI intentions: China, India, Mexico, and Brazil. This suggests that confidence in investing in specific emerging markets has declined,” it added.