Unlike China, which is ranked 48th, India continues to have restrictive market access with tariff barriers 'representing a more serious impediment that non-tariff barriers,' says the report.

Consequently, India is ranked 105th in market access among the 118 countries surveyed in the report with tariff and non-tariff barriers pushing the country to the 112th place.

According to the report, the global ETI measures factors, policies and services facilitating free flow of goods across borders. It includes four main components: market access, border administration, transport and communications infrastructure, and business environment.

So which are the world's top nations in this significant index? Read on. . .

India, 71st

While India boasts of fairly good border administration and an acceptable business environment, market access continues to be severely restricted. Only a small share of goods is imported duty free. India's border administration meets many needs of importers and exporters.

Border administration continues to be affected by corrupt practices, hampering an efficient transport of goods across borders. Trade-related infrastructure and relevant services though fairly well developed in India, there are rooms for improvement.

Image: The Taj Mahal.| Photograph: Douglas E Curran/AFP/Getty Images.