Photographs: Rupak De Chowdhuri/Reuters.
India scores a dismal 111th rank in terms of economic freedom, behind countries like China, Nepal and Bangladesh, according to a global study of 144 nations.
India's ranking has fallen from 103rd position last year. The annual ranking, titled 'Economic Freedom of the World: 2012', by Canada-based public policy think-tank, Fraser Institute, in cooperation with independent institutes in 90 nations and territories, and claims to measure the degree to which the policies and institutions of countries support economic freedom.
The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom.
The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property.
Click NEXT to see the top 20 countries in terms of economic freedom...
Economic freedom: Top 20 nations, India falls to 111!
Photographs: Rupak De Chowdhuri/Reuters.
Hong Kong retains the highest rating for economic freedom.
Hong Kong (Rank 1)
Score: 8.90
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Bobby Yip/Reuters.
Singapore (Rank 2)
Score: 8.69
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Anthony Phelps/Reuters.
New Zealand (Rank 3)
Score: 8.36
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Arnd Wiegmann/Reuters.
Switzerland (Rank 4)
Score: 8.24
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Daniel Munoz/Reuters.
Australia (Rank 5)
Score: 7.97
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Mathew Ingram/Wikimedia Commons.
Canada (Rank 6)
Score: 7.97
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Navin Shetty Brahmavar/Wikimedia Commons.
Bahrain (Rank 7)
Score: 7.94
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Peter Kuchar/Wikimedia Commons.
Mauritius (Rank 8)
Score: 7.90
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Finland/Wikimedia Commons.
Finland (Rank 9)
Score: 7.88
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Eliseo Fernandez/Reuters.
Chile (Rank 10)
Score: 7.84
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Ahmed Jadallah/Reuters.
UAE (Rank 11)
Score: 7.83
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Reuters.
Ireland (Rank 12)
Score: 7.75
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Chris Helgren/Reuters.
United Kingdom (Rank 12)
Score: 7.75
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Economic freedom: Top 20 nations, India falls to 111!
Estonia (Rank 14)
Score: 7.74
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Reuters.
Taiwan (Rank 15)
Score: 7.72
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Courtesy, Wikipedia Commons.
Denmark (Rank 16)
Score: 7.71
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Fadi Al-Assaad/Reuters.
Qatar(Rank 17)
Score: 7.70
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Courtesy, Wikipedia Commons.
United States (Rank 18)
Score: 7.69
The United States, long considered a champion of economic freedom among large industrial nations, dropped to its lowest position ever in to the Fraser Institute's annual Economic Freedom of the World report.
Much of this decline is a result of high spending on the part of the US government.
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Economic freedom: Top 20 nations, India falls to 111!
Kuwait (Rank 19)
Score: 7.66
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Economic freedom: Top 20 nations, India falls to 111!
Photographs: Wikimedia Commons.
Cyprus (Rank 20)
Score: 7.64
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