India has slipped on a scale of globalisation in the past year, says a latest report by A T Kearney and Foreign Policy magazine, ranking below even neighbours Pakistan and Bangladesh.
India's ranking, according to a globalisation index prepared by the duo, has fallen from 49 in 2002 to 56 in 2003. At the same time, Pakistan has improved its ranking from 56 to 50. And though Bangladesh has slipped from 48 to 54, it is still ahead of India.
The globalisation index measures economic, social, political and technological integration in 62 countries, representing 85 per cent of the world's population and more than 95 per cent of world's economic output.
As in 2002, Ireland emerged as the most globalised nation in the 2003 followed by Switzerland, Sweden, Singapore and The Netherlands. The United States finished in 11th place, up one notch from last year's 12th rank.
Saudi Arabia experienced this year's most significant decline, falling from 37th slot in 2002 to the 61st spot in 2003 as declining oil prices and the political fallout relating to the war on terrorism took their toll.
The A T Kearney-Foreign Policy globalisation index incorporates 13 key indicators of global integration.
The index quantifies economic integration by combining data on trade, foreign direct investment and portfolio capital flows, and income payments and receipts, which include compensation of non-resident employees and income earned and paid on assets held abroad.
It charts personal contact via levels of international travel and tourism, international telephone traffic, and cross-border transfers, including remittances.
The index also gauges technological connections by counting the number of Internet users and Internet hosts and the secure servers through which they communicate.
And it also assesses political engagement by taking stock of the number of international organisations and UN Security Council missions in which each country participates, as well as the number of foreign embassies that each country hosts.
The most recent data available for the full sample of 62 countries was collected from international organisations, including the World Bank, the International Monetary Fund and the International Telecommunications Union.
According to a statement issued by A T Kearney, the globalisation index shows that levels of integration continued to climb in the wake of the September 11 terrorist attacks and the prolonged global economic slowdown, albeit at a much slower pace than in previous years.
"Economic integration declined, but growth in political, social, and technological connections more than offset the difference. Indicators of personal connections across borders such as international telephone traffic and Internet use saw steady growth, suggesting that globalisation remains robust," the statement said.