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India slips to 45th Spot in IMD’s World competitiveness list

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India has ranked 45th out of 63 countries in the World Competitiveness Rankings 2017, compiled by the International Institute for Management Development’s (IMD) World Competitiveness Center. 

Highlights of World Competitiveness Rankings 2017:

Hong Kong topped the rankings for the second year.Hong Kong is followed by Switzerland at second position and Singapore at third position.

  • USA ranked at fourth position. This is its lowest ranking since past five years.
  • India’s 45th rank in this year’s rankings marks a drop by 4 places from 41st rank in 2016 rankings.
  • China ranked at 18th position, jumping seven spots from 2016 ranking. Improvement in China’s rank this year has been ascribed to its dedication to international trade.
  • Venezuela ranked last at 63rd
  • Cyprus and Saudi Arabia have featured in the rankings for the first time.
  • This year, for the first time, the IMD World Competitiveness Center has also published a separate report ranking countries’ digital competitiveness.
  • Singapore has topped the Digital Competitiveness Ranking 2017, whereas Venezuela ranked last in this list as well. India ranked 51st rank in the Digital Competitiveness Ranking 2017.

World Competitiveness Rankings 2017 – Top 10:

1stHong Kong

About IMD World Competitiveness Center:

The IMD World Competitiveness Center is a research group at International Institute for Management Development (IMD) business school in

  • It was formed in year 1989 by Prof. Stéphane Garelli.
  • In year 2001 the methodology to arrive at rankings was revised and since thenit includes main factors viz. Economic Performance, Government Efficiency, Business Efficiency and Infrastructure. These main factors are further divided into 20 sub-factors.
  • Professor Arturo Bris is the current Director of the IMD World Competitiveness Center.