With an economic freedom score of 53.8, India has been rated the 124th freest economy in the world, according to the 16th annual Index of Economic Freedom, released by The Heritage Foundation and The Wall Street Journal.

India's score is 0.6 point lower than last year as a result of declines in freedom from corruption, business freedom, and monetary freedom. India is ranked 24th out of 41 countries in the Asia-Pacific region, and its overall score is below the world average of 59.4 on a scale of 100.