India has been ranked at the 100th position in the Global Prosperity Index-2018, showing an improvement of four-rank from last year, according to 2017 Legatum Prosperity Index. India's improvement stems from gains in three parameters - Business Environment, Economic Quality, and Governance, of the nine parameters of prosperity.
India recorded the second largest increase in the business environment after South Africa that saw the largest jump due to reduced electricity connection costs and an improved Logistics Performance Index. India is catching up with China, which ranked 90th in the prosperity index. "India has narrowed the gap on China to a quarter of what it was in 2012," said the report. In contrast, China saw a decline in the same pillars as economically people perceived greater barriers to trade and less encouragement of competition; and educationally through a falling primary school completion rate in China.
The Legatum Prosperity Index is the world’s leading global measure of economic and social wellbeing. Norway topped the prosperity index by gaining the first spot from New Zealand. The Europe has been ranked 5th in the index while the UK maintains its 10th place ahead of both Canada and the US. The key findings of the report show that global prosperity now sits at its highest level — 2.6% up since 2007.
For more information, please see http://www.prosperity.com/globe/india