Kolkata, Sept 29, 2012 – The Grant Thornton Global Dynamism Index indicates that India is the fifth best country in the world for dynamic growing businesses.
Argentina, China., Uruguay and Chile were ranked first to fourth, respectively. India ranks ahead of Indonesia, Nigeria, Turkey, Singapore, Colombia, Russia.
“The ratings go well beyond basic gross domestic product (GDP data,” said Vishesh Chandiok, national managing partner, Grant Thornton India LLP.
“Five areas were identified as holding the key drivers to an economy’s dynamism – business operating environment, science and technology, labor and human capital, economics and growth and the financing environment. Within these groups, there were 22 key data points that were analyzed,” Chandiok added.
Grant Thornton Internatonal CEO Ed Nusbaum has indicated that by considering key fundamentals such as the legal and political risks associated with operating in a given economy, the index gives a much truer reflection of how suitable an environment it offers for dynamic businesses.
In fact, more than 400 senior executives from a broad range of countries and industries were interviewed to determine which aspects of these at-tributes they deemed most important for business growth.
This allowed for the weighting of each aspect according to its perceived relevance. Rather than provide a measure of an economy’s success during a period of high economic turbulence, this iteration provides a true illustration of the strength of each economy as a place for dynamic businesses to flourish.