Institute for Management Development releases World Competitive Index

The Institute of Management Development recently released the World Competitive Index. India ranked 43^rd in the ranking.

Highlights

In 2019, India was at the 43^rd ranking. Since 1989, India had ranked 41^st in the World Competitiveness Ranking. However, it slipped to 45^th rank in 2017 and secured 44^th 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.

Other Countries

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 14^th place to 20^th and US moved to 10^th place. Among the BRICS countries, China topped followed by India, Russia, Brazil and south Africa.

Month: Current Affairs - June, 2020