India slips by 10 positions and ranks 112th amongst 159 countries and territories included in the Economic Freedom of the World: 2016 Annual Report, released worldwide by Centre for Civil Society in conjunction with Canada’s Fraser Institute. Hong Kong has the highest level of economic freedom worldwide, followed by Singapore, New Zealand, Switzerland, Canada, Georgia, Ireland, Mauritius, United Arab Emirates, Australia, and United Kingdom at 2nd, 3rd, 4th, 5th, 6th, 7th, 8th and 9th positions respectively. Australia and the United Kingdom have tied for the 10th position this year.
The report is based on data from 2014 (the most recent year of available comparable data) and measures the economic freedom (size of government, legal system and property rights, sound money, freedom to trade internationally and regulation) by analyzing the policies and institutions of all 159 countries and territories.
