In the FDI (foreign direct investment) Confidence Index 2018 of consultancy firm AT Kearney, India has slipped by three spots and now occupies the eleventh spot in the list. The report that for the first time since 2015, India was not in the top 10 spots. Besides India, China (fifth) and Singapore (twelfth) also have dropped spots. However, Australia rose to the eight spot, while New Zealand occupied the sixteenth spot on the list.
India ranked eighth in 2017, and it occupied the ninth spot in 2016. The report added that certain policies might have deterred investors, at least in the short term.“The 2017 nationwide goods and services tax (GST), for example, has faced implementation challenges, and the 2016 demonetization initiative disrupted business activity and weighed on economic growth.”