What is the Rank of India in 2017 Global Business Optimism Ranking?
VerifiedAnswer: 7th Rank
Explanation:
India achieved the 7th position in the 2017 Global Business Optimism Ranking, which reflects the country's growing economic confidence and positive business sentiment during that period. This ranking was a significant indicator of how Indian businesses and entrepreneurs viewed their future prospects in the global marketplace.
The Global Business Optimism Ranking is typically conducted by various international business research organizations and measures several key factors that contribute to business confidence. These factors include economic stability, government policies supporting business growth, infrastructure development, ease of doing business, market opportunities, and overall investment climate within a country.
India's 7th rank in 2017 can be attributed to several positive developments in the country's business environment during that time. The government's various initiatives such as Digital India, Make in India, and Startup India programs were gaining momentum and creating a favorable atmosphere for both domestic and international businesses. Additionally, the implementation of Goods and Services Tax (GST) in 2017, despite initial challenges, was seen as a long-term positive reform that would streamline India's tax system.
This ranking reflects India's position as one of the world's fastest-growing major economies and demonstrates the confidence that businesses had in India's economic trajectory. The country's large consumer market, young demographic profile, increasing digitalization, and improving infrastructure were key factors that contributed to this optimistic business sentiment. Foreign investors and multinational companies were showing increased interest in the Indian market, recognizing it as a crucial destination for business expansion and investment opportunities.
