India ranked 'least business-friendly' Brics nation

Cape Town, Aug 8 (ANI): A World Bank report has placed India at the last spot among Brics countries for ease of doing business.

India (134) was placed after its fellow Brics nations South Africa (34), China (79), Russia (123) and Brazil (127).

The ranking indicated a country's regulations and procedures for international business practices, News24 reports.

Meanwhile, Nils Flaatten, CEO of Western Cape trade and promotion investment agency Wesgro, has warned that while SA leads the Brics nations in terms of investor trust and corporate governance procedures, job creation is crucial to the country's economic growth.

" South Africa's business ranking is something to be proud of. We have the second most stable financial system in the world and our sophisticated and established regulatory structures make us trustworthy in the eyes of investors," the report quoted Flaatten, as saying.

"Although this is a welcomed announcement, the global trend predicted for the next few years is declining demand and trade, which will negatively impact employment," he added. (ANI)