Wealth in Focus

India ranks high on openness scale India has been ranked 37 out of 102 countries in the Open Government Index, which measures a government's openness based on the general public's experiences and perceptions. In the World Justice Project's (WJP) Open Government Index 2015 report, India got an overall score of 0.57, followed by its BRIC peer Brazil at the 38th place. The WJP Open Government Index uses four dimensions to measure government openness - publicised laws and government data, right to information, civic participation and complaint mechanisms. Scores range from 0 to 1 (with 1 indicating greatest openness). Among the other leading emerging market countries, Russia was ranked 67th and China way down at 87th place. India at 37 also topped the regional ranking among South Asian countries, followed by Nepal (40), Sri Lanka (52), Bangladesh (73), Pakistan (83) and Afghanistan(89). NRI investments get RBI boost The Reserve Bank of India (RBI) has allowed Zicom Electronic Security Systems to raise the limit of investments by NRIs (non- resident Indians) and persons of Indian origins (PIOs) to up to 24 per cent of the company's paid up capital. “Non Resident Indians (NRIs)/ Persons of Indian Origin (PIOs) can now invest up to 24 per cent of the paid up capital of Zicom Electronic Security Systems Ltd under the Portfolio Investment Scheme (PIS),” RBI said in a notification. The purchases could be made through primary market and stock exchanges. FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through the PIS scheme. RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off points two percentage points lower than the actual ceiling. India set to beat China: IMF The International Monetary Fund (IMF) has thrown its weight behind expectations of India's growth rate exceeding China's this year. The country is also set to overtake its neighbouring economic giant as the world's most populous country by 2030. During a tour of India, IMF chief Christine Lagarde said that while the global economy was expected to grow at only 3.5 per cent this fiscal year and China decelerating, India is on its way to becoming the fastest growing major economy in the world. She said: “More than six years after the global financial crisis, the recovery remains too slow, too brittle, and too lopsided. We have pared down our forecasts of global growth since last October, despite the boost from cheaper oil and stronger US growth. “In this cloudy global horizon, India is a bright spot.” A fall in global crude prices has been a boon to India, which is one of the world's biggest oil importers. The above article was published in India Inc′s print edition of the India Investment Journal launched in April 2015 in conjunction with the Global Wealth Management Conclave 2015.