India and Russia, two of the most popular destinations for foreign direct investments (FDI) in 2005, are ranked second and third respectively, right behind Iraq, in JLT's ranking of the riskiest count

The top 10 also includes other popular FDI destinations such as Indonesia, the Philippines and Turkey, which all ranked higher than Afghanistan. The US makes the top 50, coming in 41st.

Dr Michel Leonard, JLT emerging markets chief economist said: "These ratings, which use economic and political intelligence and historical loss data, remind companies to look beyond headlines and assess their exposures in large FDI destinations, not just those that have a long history of terrorism." He added: "India attracted more than $5.5 bn in foreign direct investment in 2004-05, an increase of 18%. However, the number of terrorist attacks in India is among the highest in the world, even if we exclude incidents in the troubled Kashmir region, and we do not see this situation improving in the short or the medium term.