Singapore top destination for Chinese investment, India slips six notches to 37th spot

Economist Intelligence Unit's China Going Global Investment Index ranks 60 major economies in terms of their attractiveness to Chinese firms, drawing on 57 indicators spread across “opportunity” and “risk” pillars

PTI December 07, 2017 16:03:00 IST
Singapore top destination for Chinese investment, India slips six notches to 37th spot

New Delhi: India has slipped six notches to 37th position among 60 major economies in the world in terms of their attractiveness to Chinese firms, while Singapore topped the list compiled by the Economist Intelligence Unit.

According to the latest EIU's China Going Global Investment Index, Singapore overtook the US as the most attractive destination for Chinese overseas direct investment.

Hong Kong, Malaysia and Australia rounded the top five.

Among BRIC economies, Russia's index rank moved up by six places to 11th, with its economic prospects having improved owing to higher commodity prices, while South Africa's rank has risen by six places to 44th.

Singapore top destination for Chinese investment India slips six notches to 37th spot

Representational image. Reuters.

However, Brazil dropped by 19 places to 53rd place and India is down by six positions to 37th amid "tenser political relations with China", it said.

"Despite challenges for Chinese investors in India, the country's growth prospects are the brightest across major economies and several Chinese companies, such as Huawei (a telecommunications firm) and Xiaomi (a consumer electronics company), have built successful businesses there," the EIU report said.

E-commerce could be a particular strength for Chinese firms in the global consumer sector in future, the report said and added that Alibaba, is amplifying its e-commerce footprint in South-east Asia and India through investments in Lazada and Paytm, respectively.

Although developed economies still dominate the upper ranks of the index, emerging markets have improved their positions and notable climbers include Malaysia (4th) and Kazakhstan (13th).

Several developed economies have tumbled down the index: the UK slipped the most, by 29 places to 41st, owing to the worsened outlook for economic growth following its decision to leave the EU.

Countries that rank consistently highly across the six industry indices include the US, Japan, India and Iran.

"While the US and Japan owe their positions mainly to the opportunities they offer Chinese firms to obtain technology and brands through mergers and acquisitions (M&A), India and Iran are fast-growing markets in which companies from China are likely to be competitive," the report noted.

The index ranks 60 major economies in terms of their attractiveness to Chinese firms, drawing on 57 indicators spread across “opportunity” and “risk” pillars.

Updated Date:

also read

Internet outage hits websites, apps of many airlines, banks, other companies; services now restored
News & Analysis

Internet outage hits websites, apps of many airlines, banks, other companies; services now restored

Many of the outages were reported by people in Australia trying to do banking, book flights and access postal services.

During COVID-19, Australian, Japanese, New Zealand cities jump ahead of Europe as most livable cities: Study
World

During COVID-19, Australian, Japanese, New Zealand cities jump ahead of Europe as most livable cities: Study

Auckland rose to the top of the ranking while European cities fared particularly poorly in this year’s edition.

Hong Kong govt to ban films that 'endanger national security' or question state's methods
Entertainment

Hong Kong govt to ban films that 'endanger national security' or question state's methods

The Hong Kong government now have the power to ban films from exhibition to “prevent or suppress any act or activity endangering national security,” it said in a statement.