India is ranked at ninth position in crony-capitalism index that was released by the Economist in the first week of May 2016.
• As per the latest crony-capitalism index the non-crony sector wealth in India amounts to 8.3 per cent of the GDP
• Russia topped the list
• It was followed by Malaysia, the Philippines and Singapore.
• Russia fares worst in the index, wealth from the country's crony sectors amounts to 18 per cent of its GDP.
• It was based on the work by Ruchir Sharma of Morgan Stanley Investment Management, Aditi Gandhi and Michael Walton of Centre for Policy Research of New Delhi, and others in 2014.
• Due to its limitations the index was not recognized internationally.
• It also aims to measure the increase trend in the number of economic rent-seekers.