India Inc. one of the most global business unfriendly: World Economic Forum
Harish Baliga
Jun. 18, 2008

The World Economic Forum's (WEF) new Global Enabling Trade Index survey looked at 118 economies in the world. The tariffs, customs administration efficiency and availability of transport and communications infrastructure were under the telescope. India came out after 70 nations in the ranking. Although native Indians and Indian Government is hungry for US Dollar and Euros from outsourcing, believe it or India Inc. is one of the worst in global trade friendliness.

The forum ranked Hong Kong number one thanks to its "very open market" as well as a "secure and open business environment." Singapore came next.

It is shame that India ranked so low. According to WEF India has huge disproportionate amount of global trade because of its cheap talented technical work force. Simply put, India allows use of its people as cyber slaves and call center slaves.

No one willingly is going to India to trade and prosper. Indian oligarchs like Ambanis, Tatas, Birlas and so on control the markets in India. They keep the politicians and bureaucrats under their control with money and does not allow free access to innovative companies from other regions of the world.

Unlike that of India, Singapore's open business environment was also complemented by a highly efficient and transparent border administration and a well-developed transport and communications infrastructure.

Third and fourth places were taken by Sweden and Norway respectively, while Canada was ranked fifth.

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