India has slipped to seventh position, lowest in over a decade, from the fifth position last year in the foreign direct investment (FDI) confidence index for 2014, released by the global management consulting firm A T Kearney. The survey was conducted in January and February 2014.
In Asia, which attracts around a third of all FDI, China maintained its second position on the index as it receives higher-end manufacturing from overseas. Also, Singapore moved up to ninth spot from 10th position last year.
“Australia and India both experienced a cooling off among investors; conversely, Singapore, with its famously predictable regulations and low corporate tax rate, moved up a notch in the ranking,” the report said.
Last year three of the top five were occupied by emerging markets under the BRIC category. While India moved to the seventh spot this year, Brazil also slipped from number three to the fifth spot.
The US topped the rank for the second year in a row, the survey of 300 global executives by A T Kearney showed.
The FDI confidence index by A T Kearney is prepared after surveying senior executives of 300 participating companies, which represent 26 countries and span all industry sectors. All companies report global revenue of more than $500 million.
(Edited by Joby Puthuparampil Johnson)