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Global Entrepreneurship Network index: India makes up @68

Global Entrepreneurship Network index: India makes up @68
Highlights

After the recent improvement in World Bank’s ease of doing business (EoDB) ranking and rating upgrade by Moody’s, India got another boost from Global Entrepreneurship Network (GEN). India has moved up by one notch to the 68th position on the Global Entrepreneurship Index of 2018, while the world’s largest economy the US tops the list. 

Hyderabad: After the recent improvement in World Bank’s ease of doing business (EoDB) ranking and rating upgrade by Moody’s, India got another boost from Global Entrepreneurship Network (GEN). India has moved up by one notch to the 68th position on the Global Entrepreneurship Index of 2018, while the world’s largest economy the US tops the list.

Jonathan Ortmans, president of the Global Entrepreneurship Network (GEN), said: “India was at the 69th position last year. The US is at the top rank this year also. The GEN index ranked 137 countries. India is in 68th position in the Global Entrepreneurship Index. The USA is in first position in 2018. The list was prepared for 137 countries in the world.”

Ortmans was speaking at the Global Entrepreneurship Summit (GES-2017) here on Wednesday. “Based on overall entrepreneurship attitude and potential, each country is ranked,” he said. Recently, India moved up by 30 notches to 100 in WB’s EoDB. Moody’s Investors Service raised India’s sovereign rating to Baa2 from Baa3 for the first time since 2004.

India was at 76th position in 2014, according to the Global Entrepreneurship Development Institute (GEDI), a Washington, DC-based policy development organisation dedicated to expanding economic opportunities for individuals, communities and nations. GEN is a strategic partner of GEDI.

India in 2016 recorded the largest jump in the rankings, moving up 29 spots to 69th position. India was strong in product innovation while weak in technology absorption, said last year's report.

GEN is a platform of programmes and initiatives that help new firms begin and scale. GEN works to fuel healthier start and scale ecosystems that create more jobs, educate individuals, accelerate innovation and strengthen economic growth.

The network is conducting a series of public policy focused roundtable events in India to explore innovative public-sector approaches to stimulate new firm formations and growth, a GEN press release said.

“Six to eight policy panels are being planned to reach all 30 federal states by the end of 2018 to promote entrepreneurship, create jobs, incentivise capital investments and work towards the sustainability of Indian enterprises by creating global linkages,” the release said.

GEN India is in the process of appointing 30 state ambassadors, who will lead all GEN India initiatives, including policy panels, entrepreneurship celebrations, national competitions and partnerships.

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