India is at 115…

… in the The Heritage Foundation/The Wall Street Journal Index of Economic Freedom released today. In its 14th edition, the annual survey grades countries on a combination of factors including property rights protection, tax rates, government intervention in the economy, monetary, fiscal and trade policy, and business freedom.

Index of Economic Freedom

This article gives us what matters — the “India syndrome” getting rooted deep in the economists all over the world. Here is the the microeconomic research of McKinsey Global Institute,

It is estimated that modern industry in India could take a huge bite out of its productivity gap with U.S. competitors by simply upgrading production techniques. India doesn’t need another multilateral education project. It needs to tap into knowledge already available in successful economies — the information and technology is out there. The trouble is that it is unavailable in many countries like India, because government barriers and constraints to limit competition make access difficult or impossible.

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