India has been ranked 112th out of 159 countries in the 2016 World Economic Freedom Index (WEFI). The index was release as part of the 2016 annual report of the Economic Freedom. The report measures the economic freedom by analyzing the policies and institutions of all 159 countries and territories and was based on data from the year 2014.
Key Facts The economic freedom index of a country is directly proportional to the freedom and opportunities available to its citizens. People living in countries with high levels of economic freedom enjoy greater prosperity, more political and civil liberties and longer lives. On the contrary, countries with lower levels of freedom index tend to suppress its citizens’ freedom and rights.
Top 10 Countries in 2016 WEFI: Hong Kong (1st), Singapore (2nd), New Zealand (3rd), Switzerland (4th), Canada (5th), Georgia (6th), Ireland (7th), Mauritius (8th), UAE (9th) and Australia (10th).
10 lowest-ranked countries: Iran (150th), Algeria (151st), Chad (152nd), Guinea (153rd), Angola (154th), Central African Republic (155th), Argentina (156th), Congo (157th), Libya (158th) and Venezuela (159th).