Out of 144 nations, India ranks 97th in Forbes’ list of best countries for business in 2015

India has to do a lot to feature is at least top 10 of best countries for business. Owing to several challenges including monetary freedom and trade, India ranked at 97th out of 144 nations on the Best Countries of Business in 2015 list by Forbes.

Denmark topped the list and India was behind Kazakhstan and Ghana, which were at 57 and 79, respectively.

The US was at 22nd spot.

Meanwhile, Forbes said while India is developing into an open-market economy, traces of its "past autarkic policies" remain.

"The outlook for India's long-term growth is moderately positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy,” stated Forbes, adding “However, India has many challenges that it has yet to fully address, including poverty, corruption, violence and discrimination against women and girls, an inefficient power generation and distribution system, ineffective enforcement of intellectual property rights, decades-long civil litigation dockets, inadequate transport and agricultural infrastructure, limited non-agricultural employment opportunities.”

Forbes further said that growth in India last year fell to a decade low, as its economic leaders struggled to improve the country's wide fiscal and current account deficits.

The country performed moderately well on certain factors, ranking eighth on investor protection, 41st on innovation, 57th on personal freedom and 61st on property rights.

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