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India ranked 68th on 2019 WEF Global Competitiveness Index

India has slipped sharply by 10 places to rank 68th on the 2019 WEF Global Competitiveness Index due to improvements witnessed by several other economies. The index is compiled by the Geneva-based World Economic Forum (WEF). In the overall competitiveness ranking, Singapore replaced the US to take the first position.

WTO is hosting first-ever World Cotton Day (WCD) in Geneva

The World Trade Organisation (WTO) is hosting the first-ever World Cotton Day (WCD) in Geneva on 7th October 2019. Union Textiles Minister Smriti Irani is representing India in the 5-day event of WCD. The WCD will celebrate the many advantages of cotton, from its qualities as a natural fibre, to the benefits people obtain from ..

India in the Travel & Tourism Competitiveness Index 2019

The latest iteration of the Travel & Tourism Competitiveness Index for 2019 has been released by the World Economic Forum (WEF). In a piece of great news for India, it has improved its position by six places and is now ranked 34th on world travel and tourism competitiveness index. What has happened? The Travel & ..

India ranked 34th WEF’s World Travel and Tourism Competitiveness Index (TTCI) 2019

The World Travel and Tourism Competitiveness Index (TTCI) 2019 has been released by the World Economic Forum (WEF). In it, India has moved up six places to rank 34th because of its rich natural and cultural resources and strong price competitiveness.  Spain topped the index, followed by France, Germany, Japan and the United States. The ..

India finds problems OECD Services Trade Restrictiveness Index

India has found problems with the current method under which the OECD index –Services Trade Restrictiveness Index (STRI) – ranks countries based on their services trade policies. As per study commissioned by Indian Ministry of Commerce, the outcomes of index are biased and counter-intuitive. For example, the index seems to show the Indian services sector ..

Income Tax department alters method to tax MNCs and Digital Firms in India

The income tax department has changed the method to tax multinational companies and digital firms with permanent establishment in India by taking into account various factors like domestic sales, employee strength, assets and user base. In ‘Profit Attribution to Permanent Establishment in India’s report, the Central Board of Direct Taxes Committee stated that MNCs that ..

David Malpass elected as new President of World Bank

David Malpass, a top US Treasury official in Trump administration, was unanimously selected as the new President of the World Bank for a period of five-years. The World Bank President is Chair of Boards of Directors of the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA). The President is also ex ..

The annual meet of World Economic Forum (WEF) started in Davos

The annual meet of World Economic Forum (WEF) has started in Davos with theme ‘Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution’. The aim of the 5-day event is to discuss what’s ailing the world amid fears of the global economy sleepwalking into a crisis. Those expected to attend ..