India jumps 16 ranks in WEF's Global Competitiveness Index

Published: Oct 21, 2016 06:57:58 AM IST
Updated: Oct 21, 2016 12:48:19 AM IST

The World Economic Forum’s (WEF) annual Global Competitiveness Index saw India jumping 16 places in 2016-17—the highest leap by any country. It now ranks 39 among the 138 economies that were surveyed. Switzerland retains the top slot.


TOP GUNS
The most competitive economies across the globe

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THE WAY FORWARD
To further improve its ranking, India needs to tackle the following issues:

  •  Rigid regulations that protect the labour market (India’s rank was 84 on this parameter).
  •  Inefficient domestic market, weighed down by fiscal regulations and presence of public enterprises, especially in utilities (81).
  •  Infrastructure shortcomings (68).
  •  Inadequate information and communication technology and its usage (110).

(This story appears in the 28 October, 2016 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)

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