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India ranks 39th in 2016-17 Global Competitiveness Index

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India has secured the 39th rank, climbing 16 places from last year, on the annual Global Competitiveness Index prepared by the World Economic Forum (WEF). Every year, WEF releases its Global Competitiveness Report based on their analysis of the world’s 138 economies. India has a score of 4.52 on the Index, while that of Switzerland, ranked 1st, is 5.81.

About WEF :

The World Economic Forum (WEF) is a Swiss nonprofit foundation, based in Cologny, Geneva. Recognized by the Swiss authorities as the international institution for public-private cooperation, its mission is cited as “committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas”.

  • The Forum is best known for its annual winter meeting for five days in Davos, a mountain resort in Graubünden, in the eastern Alpsregion of Switzerland.
  • The meeting brings together some 2,500 top business leaders, international political leaders, selected intellectuals, and journalists for up to five days to discuss the most pressingissues facing the world. Often this location alone is used to identify meetings, participation, and participants with such phrases as, “a Davos panel” and “a Davos Man”.
  • The organization also convenes some six to eight regional meetings each year in locations such as Latin America and East Asia, as well as undertaking two further annual meetings in China and the United Arab Emirates. Beside meetings, the foundation produces a series of research reports and engages its members in sector specific initiatives.
  • Global Competitiveness IndexThe 2011 annual meeting in Davos was held from 26 to 30 January. The 2012 meeting was held on 25–29 January 2012, with the theme “The Great Transformation: Shaping New Models”.
  • The 2013 meeting was held from 23 to 27 January, with the theme of “Resilient Dynamism,” following founder Klaus Schwab’s declaration that “the need for global cooperation has never been greater”.
  • The 2014 meeting was held from 22 to 25 January, with the theme “The Reshaping of the World: Consequences for Society, Politics and Business”The 2015 meeting was held from 21 to 24 January, with the theme “new global context”.
  • With the theme of ‘Mastering the Fourth Industrial Revolution, the World Economic Forum’s 46th annual conference began on 19 January at the Swiss ski resort of Davos. Other issues such as terror and inequality will also figure in the debates.

About Global Competitiveness Report :

The Global Competitiveness Report 2016-2017 assesses the competitiveness landscape of 138 economies, providing insight into the drivers of their productivity and prosperity.

  • The Report series remains the most comprehensive assessment of national competitiveness worldwide. India has seen the biggest leap in ranking for any country in the World Economic Forum’s (WEF) global competitiveness index.
  • In the 2016-17 rankings, Asia’s third-largest economy ranked 39th among 138 countries. Last year, it was at 55.

Top 5 countries

1 Switzerland
2 Singapore
3 US
4 Netherlands
5 Gernmany

Here’s how India performed in the 12 parameters that the WEF measured:

Parameter Rank
Institutions 42
Infrastructure 68
Macroeconomic environment 75
Health and primary education 85
Higher education and training 81
Goods market efficiency 60
Labour market efficiency 84
Financial market development 38
Technological readiness 110
Market size 3
Business sophistication 35
Innovation 29