Institute for Management Development releases World Competitive Index
The Institute of Management Development recently released the World Competitive Index. India ranked 43rd in the ranking.
In 2019, India was at the 43rd ranking. Since 1989, India had ranked 41st in the World Competitiveness Ranking. However, it slipped to 45th rank in 2017 and secured 44th in 2018. The continuous low ranking of India is mainly due to poor infrastructure and insufficient education investment.
According to the ranking, India has improved in long term employment growth, foreign currency reserves, overall productivity, education. On the other hand, India had declined in taxes, real GDP growth, competition legislation, exchange rate stability.
Singapore secured the top position in the ranking system. Denmark was at the second position, followed by Switzerland, Netherlands, Hong Kong.
The ranking is created by the business school based in Singapore and Switzerland.
China slipped from 14th place to 20th and US moved to 10th place. Among the BRICS countries, China topped followed by India, Russia, Brazil and south Africa.
Month: Current Affairs - June, 2020
Category: Reports & Indexes Current Affairs