India ranks 5th in economic power list

India has moved up to fifth position in a list ranking the governments of 112 countries in terms of their ability to project the economy into the international sphere, as per the Economic Survey 2010-11 released today.

In 2000, the country was ranked 10th in the Index of Government Economic Power (IGEP), it said.

As per the IGEP, to be released shortly by the Ministry of Finance, the Survey said India was among the best performers on the globe in terms of its ability to raise resources, credit-worthiness and credibility in international financial markets.

According to the IGEP 2009, the US was at the top of the list, followed by China, Japan, Germany, India, Russia, Brazil, France, Italy and the UK.

"Among the top ranking economies, some of the most dramatic rises in rank have been... India's rise from 10th position in 2000 to fifth in 2009," the Survey said.

The IGEP endeavours to capture the ability of a government to project itself in the international sphere and is composed of four variables -- government revenues, foreign currency reserves, export of goods and services and human capital.

The IGEP ranking, as revealed by the Survey, comes at a time when the Indian economy is projected to grow by 8.6% this fiscal and by 9% in 2011-12.