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...
Hong Kong retains the highest rating for economic freedom.
Hong Kong (Rank 1)
Score: 8.90
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Singapore (Rank 2)
Score: 8.69
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New Zealand (Rank 3)
Score: 8.36
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Switzerland (Rank 4)
Score: 8.24
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Australia (Rank 5)
Score: 7.97
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Canada (Rank 6)
Score: 7.97
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Bahrain (Rank 7)
Score: 7.94
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Mauritius (Rank 8)
Score: 7.90
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Finland (Rank 9)
Score: 7.88
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Chile (Rank 10)
Score: 7.84
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UAE (Rank 11)
Score: 7.83
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Ireland (Rank 12)
Score: 7.75
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United Kingdom (Rank 12)
Score: 7.75
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Estonia (Rank 14)
Score: 7.74
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Taiwan (Rank 15)
Score: 7.72
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Denmark (Rank 16)
Score: 7.71
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Qatar(Rank 17)
Score: 7.70
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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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Kuwait (Rank 19)
Score: 7.66
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Cyprus (Rank 20)
Score: 7.64
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