A big setback as India has been ranked 105th on the Global Economic Freedom Index 2020, falling 26 spots from 79th position in last year’s rankings. The Economic Freedom of the World: 2020 Annual Report prepared by Canada’s Fraser Institute has been released in India in conjunction with New Delhi-based think tank Centre For Civil Society. The report highlighted that the prospect of increasing economic freedom in India depends on the next generation of reforms in factor markets including greater openness to international trade. The report based on 2018 data once again gave top spots to Hong Kong and Singapore, which continued their streak as first and second respectively.