India is World's 40th Competitive Economy says World Economic Forum

India has been ranked 40th in the world's most competitive economy slipping by one place from the last year's ranking which is topped by Switzerland.The top 10 countries are as follows-
1.Switzerland
2.United States
3.Singapore
4.Netherlands
5.Germany                       
6.Hong Kong
7.Sweden
8.United Kingdom
9.Japan
10.Finland
World economic forum WEF
Courtesy-livemint

According to data from the World Economic Forum’s Global Competitiveness Report 2017-2018
Ten years on from the global financial crisis, the prospects for a sustained economic recovery remain at risk due to a widespread failure on the part of leaders and policy-makers to put in place reforms necessary to underpin competitiveness and bring about much-needed increases in productivity.

According to the report, India's performance also improved in Information and communications Technologies indicators, particularly Internet bandwidth per user, mobile phone and broadband subscriptions, and Internet access in schools.

What are the 12 pillars of Global Competitiveness?
Institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication and innovation are the 12 pillars.
Among the BRICS nations,China(27) and Russia(38) are placed above India.Where as South Africa and Brazil are place at 61th and 80th spot respectively.India's neighbour, Pakistan and Bangladesh were place at 115th and 99th spot.

Check your country's Global Competitiveness Index

Source- World Economic Forum 
India is World's 40th Competitive Economy says World Economic Forum India is World's 40th Competitive Economy says World Economic Forum Reviewed by Roman Empire on October 13, 2017 Rating: 5
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