New Delhi: India seems to have been out of favour for foreign investors as it did not feature in the 2020 Kearney Foreign Direct Investment Confidence Index released on Tuesday.
In 2019, India was in the 16th position in the index. India’s position had been consecutively dropping on the index in the past few years.
The US was at the top position for the eighth consecutive year, demonstrating its high level of attractiveness to foreign investors due to its competitive business environment and a strong technological base.
“This stretch represents the longest run for the United States in the top position on the Index and dates back to 2013. However, it remains behind the all-time record held by China, which maintained the first position on the Index from 2002 through 2012,” said the Kearney report.
Canada inched up by a position to take the second spot while Germany moved a rank lower to the third spot.
The report noted that more broadly, markets in the Americas do better in the 2020 Indexthan last year, with the US and Canada claiming the top two spotsand Brazil rejoining the top 25 after a one-year absence. As a result of Brazil (22nd) rejoining the Index, the region captures three spots this year — the same share as last year.
Japan, on the other hand rose two spots to the fourth position and France held on to the fifth position.
In the sixth, seventh and eighth positions were the UK, Australia and China. China’s eighth rank is its lowest so far but it is the only emerging market to have ranked among the top 10.
Italy dropped a rank lower to the ninth position, while Switzerland gained three spots to take the 10th spot.