Union Commerce and Industry Minister Piyush Goyal on Friday, 18 September 2026, highlighted that India has secured the top position in business climate among more than 40 global markets, as per the Global Business Climate Survey 2026 published by the Swedish Chamber of Commerce in India (SCCI). The ranking reflects the perspectives of Swedish companies operating or considering expansion across key export markets worldwide.

What the Survey Found

The 2026 edition of the survey draws on responses from companies operating across 41 markets, offering a structured comparison of economic performance, business outlook, and operating conditions. India emerged as one of the highest-rated destinations, alongside Vietnam, within the Asia-Pacific (APAC) region — which the survey identifies as the most optimistic globally.

The survey noted that market-level growth projections are highest in India, the Philippines, and Poland, while 64 per cent of Swedish companies reported profitability across the surveyed markets. On investment intent, 44 per cent of Swedish companies plan to increase investments in 2026, slightly down from 45 per cent in 2025, with the Philippines and India among the top APAC investment destinations.

What Minister Goyal Said

Sharing the findings on social media platform X, Minister Goyal described the result as a reflection of India's economic positioning. 'India is the world's favourite destination to do business. Amid global turbulence, India's business climate is setting the gold standard for stability, growth, and ease of doing business,' he posted. The minister's remarks came as the government has been pushing the narrative of India as a preferred global investment hub, especially as supply chains diversify away from other large Asian economies.

Regional Context and Caveats

The survey's findings carry an important caveat: data collection coincided with the onset of a conflict in the Middle East on 28 February. Approximately 75 per cent of responses were collected before that date, with the remaining 25 per cent submitted after the outbreak. The SCCI noted that 'the war particularly affects companies' perceptions of the business climate, expected industry turnover, and investment plans,' and cautioned that war-related impacts may only be partially captured.

Regionally, the Middle East and Africa showed a marked shift toward caution, with Saudi Arabia recording a sharp decline — the share of companies expressing a positive outlook fell from 90 per cent in 2025 to 44 per cent in 2026. Sentiment in the Americas and Europe improved modestly compared to 2025, with Ireland entering the top tier for the first time. The Americas recorded the strongest regional expectations overall, though investment plans there slowed — contributing to the marginal dip in the global investment-intent figure.

Why This Matters for India

India's top ranking in the SCCI survey arrives at a moment when the government is actively courting foreign capital through initiatives ranging from production-linked incentives to infrastructure investment. Recognition from Swedish business chambers carries weight because Scandinavian firms — active in engineering, clean energy, telecom, and defence — represent a segment of European FDI that India has been working to deepen. Notably, APAC retaining its lead as the most optimistic region underlines that the broader Asia growth story remains intact despite geopolitical headwinds. For India specifically, appearing alongside high-growth markets like Vietnam and the Philippines in investor rankings signals continued competitiveness within a crowded regional field.