India jumped up 16 positions on a global index of the world's most competitive economies

In a big jump, India has moved up 16 positions to rank 39th on a global index of the world's most competitive economies. The report  showed that India fared well in goods market efficiency, business sophistication and innovation

India’s competitiveness improved across the board, particularly in goods market efficiency (60), business sophistication (35) and innovation (29). WEF said recent reform efforts by the government have concentrated on improving public institutions (up 16 places), opening the economy to foreign investors and international trade (up 4), and increasing transparency in the financial system (up 15).

India still needs to cover a lot of ground, the WEF said, citing labour market deficiencies, large, public enterprises that reduce economic efficiency, especially in the utilities sector and the financial market. Lack of infrastructure remains a critical bottleneck, the report said.