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Countries with best financial infrastructure
India's rank slipped to 40, down four places, in World Economic Forum's Financial Development Report that rates 62 leading financial systems and capital market for the breadth, depth, and efficiency.
The report said that the country has poor institutional and business environment, which results in an inability to enforce contracts. A low degree of financial sector liberalisation, inadequate infrastructure, and a high cost of doing business too were responsible for the lower ranking.
India is ranked behind its Asia peers Korea Republic (ranked 15), Malaysia (ranked 18), China (ranked 23), and Thailand (ranked 34). Even the other BRIC countries fared better with Brazil ranked 32 and Russian Federation ranked 39.
Although the country's policies and institutions are quite weak, India did experience a slight improvement in the financial stability, the report said.
Out of the 15 Asia Pacific countries, India is ranked ninth.
The report rated the countries based on seven parameters - institutional environment, business environment, financial stability, banking financial services, non-banking financial services, financial markets, and financial access.
India Rankings
Overall: 40
Institutional environment: 56
Business environment: 55
Financial stability: 46
Banking financial services: 45
Non-banking financial services: 9
Financial markets: 28
Financial access: 45
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Countries with best financial infrastructure
Hong Kong SAR Rankings
Overall: 1
Institutional environment: 9
Business environment: 2
Financial stability: 8
Banking financial services: 1
Non-banking financial services: 10
Financial markets: 4
Financial access: 4
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Countries with best financial infrastructure
United States Rankings
Overall: 2
Institutional environment: 13
Business environment: 13
Financial stability: 38
Banking financial services: 21
Non-banking financial services: 1
Financial markets: 1
Financial access: 5
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Countries with best financial infrastructure
United Kingdom Rankings
Overall: 3
Institutional environment: 2
Business environment: 8
Financial stability: 43
Banking financial services: 2
Non-banking financial services: 3
Financial markets: 2
Financial access: 12
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Countries with best financial infrastructure
Singapore Rankings
Overall: 4
Institutional environment: 1
Business environment: 1
Financial stability: 3
Banking financial services: 10
Non-banking financial services: 12
Financial markets: 3
Financial access: 14
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Countries with best financial infrastructure
Australia Rankings
Overall: 5
Institutional environment: 18
Business environment: 12
Financial stability: 9
Banking financial services: 7
Non-banking financial services: 5
Financial markets: 8
Financial access: 6
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Countries with best financial infrastructure
Canada Rankings
Overall: 6
Institutional environment: 6
Business environment: 9
Financial stability: 13
Banking financial services: 13
Non-banking financial services: 7
Financial markets: 10
Financial access: 2
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Countries with best financial infrastructure
Japan Rankings
Overall: 7
Institutional environment: 15
Business environment: 19
Financial stability: 19
Banking financial services: 3
Non-banking financial services: 6
Financial markets: 5
Financial access: 27
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Countries with best financial infrastructure
Switzerland Rankings
Overall: 8
Institutional environment: 12
Business environment: 6
Financial stability: 2
Banking financial services: 16
Non-banking financial services: 15
Financial markets: 7
Financial access: 24
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Countries with best financial infrastructure
Netherlands Rankings
Overall: 9
Institutional environment: 7
Business environment: 7
Financial stability: 16
Banking financial services: 4
Non-banking financial services: 13
Financial markets: 17
Financial access: 13
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Countries with best financial infrastructure
Sweden Rankings
Overall: 10
Institutional environment: 4
Business environment: 10
Financial stability: 25
Banking financial services: 8
Non-banking financial services: 32
Financial markets: 15
Financial access: 1
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Countries with best financial infrastructure
Germany Rankings
Overall: 11
Institutional environment: 10
Business environment: 11
Financial stability: 18
Banking financial services: 12
Non-banking financial services: 16
Financial markets: 13
Financial access: 16
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Countries with best financial infrastructure
Denmark Rankings
Overall: 12
Institutional environment: 8
Business environment: 3
Financial stability: 21
Banking financial services: 25
Non-banking financial services: 27
Financial markets: 12
Financial access: 9
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Countries with best financial infrastructure
Norway Rankings
Overall: 13
Institutional environment: 3
Business environment: 5
Financial stability: 6
Banking financial services: 6
Non-banking financial services: 25
Financial markets: 26
Financial access: 17
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Countries with best financial infrastructure
France Rankings
Overall: 14
Institutional environment: 17
Business environment: 22
Financial stability: 42
Banking financial services: 19
Non-banking financial services: 17
Financial markets: 11
Financial access: 11
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Countries with best financial infrastructure
Korea Republic Rankings
Overall: 15
Institutional environment: 34
Business environment: 15
Financial stability: 44
Banking financial services: 20
Non-banking financial services: 2
Financial markets: 14
Financial access: 22
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Countries with best financial infrastructure
Belgium Rankings
Overall: 16
Institutional environment: 14
Business environment: 21
Financial stability: 27
Banking financial services: 15
Non-banking financial services: 35
Financial markets: 19
Financial access: 3
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Countries with best financial infrastructure
Finland Rankings
Overall: 17
Institutional environment: 5
Business environment: 4
Financial stability: 22
Banking financial services: 22
Non-banking financial services: 49
Financial markets: 31
Financial access: 8
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Countries with best financial infrastructure
Malaysia Rankings
Overall: 18
Institutional environment: 21
Business environment: 25
Financial stability: 10
Banking financial services: 11
Non-banking financial services: 14
Financial markets: 24
Financial access: 28
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Countries with best financial infrastructure
Spain Rankings
Overall: 19
Institutional environment: 24
Business environment: 28
Financial stability: 55
Banking financial services: 5
Non-banking financial services: 18
Financial markets: 9
Financial access: 20
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Countries with best financial infrastructure
Ireland Rankings
Overall: 20
Institutional environment: 11
Business environment: 14
Financial stability: 53
Banking financial services: 14
Non-banking financial services: 19
Financial markets: 23
Financial access: 18