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.THE WAY FORWARD
The most competitive economies across the globe
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. To visit our Archives, click here.)