On an index that measures business resilience of nations, India has been ranked a low 119 out of 130 countries. The measurments are based on economic, risk quality and supply chain factors.

Norway for being the country best suited for companies seeking to avoid disruption in their global supply chain operations has topped in the 2015 FM Global Resilience Index. Whereas Venezuela is ranked last on the list.

India, “despite its scope and global potential”, ranks 119, falling from 112th rank in 2014.

“Economically, (India) suffers from a formidable tangle of problems. A third of its population still live in extreme poverty — one of the highest incidences outside sub-Saharan Africa. The implementation of economic reforms has been identified as a priority by India’s new government,” the report said adding that India ranks poorly across eight of the nine drivers of resilience.