Intellectual Thoughts by Sanjay Panda !!!!!: India up 16 places to 55th on global competitiveness index


Wednesday, September 30, 2015

India up 16 places to 55th on global competitiveness index



In a big jump, India has moved up  by 16 notch to rank 55th on a global index of the world’s most competitive economies. The jump in India’s position underlines the country’s recent economic recovery, improvement in institutions’ competitiveness, macroeconomic environment and a “slight improvement” in infrastructure, the World Economic Forum (WEF) said in its latest Global Competitiveness report.

Switzerland has retained its top position as the world’s most competitive economy for seventh year in a row and is followed by Singapore, the US, Germany and the Netherlands in the top-five.

Among emerging economies, India has ended five years of decline with a 16-place jump to 55th position. Turkey (51st), Brazil (75th) which posted one of the largest falls.

WEF said that the most problematic factors for doing business in India include corruption, policy instability, inflation and access to finance.

Here’s how India ranks across a range of areas
Parameter
Ranking
Market size
3
Innovation
42
Business sophistication
52
Financial market development
53
Institutions
60
Infrastructure
81
Health and primary education
84
Higher education and training
90
Macroeconomic environment
91
Goods market efficiency
91
Labour market efficiency
103
Technological readiness
120



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