India jumps 16 ranks in WEF's Global Competitiveness Index

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 GUNSThe most competitive economies across the globe

THE WAY FORWARDTo 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).