India moves up one spot on global competitiveness list
The Financial Express, September 9, 2009, Page 1
fe Bureaus, New Delhi
The Global Competitiveness Report 2009-2010, released on Tuesday by the World Economic Forum, ranked Switzerland as the world’s most competitive nation, overtaking the US. The top ten rankings show no significant changes despite the global slowdown. Other than the US, the other two nations to have slid are Denmark and the Netherlands, to 5th and 10th positions, respectively.
India improved on its position by one rank to the 49th slot. “India’s competitive performance continues to exhibit a rather reversed development pattern,” the report said.
The report ranks 133 countries for their competitive strengths. The report says the more competitive a country is, the more prosperity it can provide its citizens. A comparable survey conducted annually by Switzerland’s IMD business school and released in its World Competitiveness Yearbook ranked India at 29th position among 59 countries in 2008.
Among Bric countries, Brazil occupied the 43rd slot, while China and Russia did not figure in the 2008 yearbook. In the latest competitiveness report, on the other hand, China has the best ranking, at 29th place. Brazil occupied the 56th slot and Russia came in at 63 rd .
In terms of individual indices like macro-economic stability, the US is now placed 93 rd; India is at 96th position. The US also scored badly on the financial soundness of its banks. Its 108th place is ahead of countries like Venezuela, Serbia and Vietnam. Similarly, the banking sectors of Britain, Ireland and Iceland have brought up the rear.
The Global Competitiveness Report’s competitiveness ranking is based on a Global Competitiveness Index, developed for the World Economic Forum in 2004. The index is based on 12 parameters that it claims provides a comprehensive picture of the competitive landscape among countries of the world, despite their different stages of development.
These include public institutions, infrastructure, macroeconomic stability, health and education outreach, the sophistication of financial markets and labour markets and innovation. The sum of all these parameters is assumed to set the sustainable current and medium-term levels of economic prosperity.
Among the countries that saw the highest gains was Singapore, which moved up two places to 3rd position. The report came a day before IFC unveils its 2010 Doing Business Report.
The Financial Express, September 9, 2009, Page 1
fe Bureaus, New Delhi
The Global Competitiveness Report 2009-2010, released on Tuesday by the World Economic Forum, ranked Switzerland as the world’s most competitive nation, overtaking the US. The top ten rankings show no significant changes despite the global slowdown. Other than the US, the other two nations to have slid are Denmark and the Netherlands, to 5th and 10th positions, respectively.
India improved on its position by one rank to the 49th slot. “India’s competitive performance continues to exhibit a rather reversed development pattern,” the report said.
The report ranks 133 countries for their competitive strengths. The report says the more competitive a country is, the more prosperity it can provide its citizens. A comparable survey conducted annually by Switzerland’s IMD business school and released in its World Competitiveness Yearbook ranked India at 29th position among 59 countries in 2008.
Among Bric countries, Brazil occupied the 43rd slot, while China and Russia did not figure in the 2008 yearbook. In the latest competitiveness report, on the other hand, China has the best ranking, at 29th place. Brazil occupied the 56th slot and Russia came in at 63 rd .
In terms of individual indices like macro-economic stability, the US is now placed 93 rd; India is at 96th position. The US also scored badly on the financial soundness of its banks. Its 108th place is ahead of countries like Venezuela, Serbia and Vietnam. Similarly, the banking sectors of Britain, Ireland and Iceland have brought up the rear.
The Global Competitiveness Report’s competitiveness ranking is based on a Global Competitiveness Index, developed for the World Economic Forum in 2004. The index is based on 12 parameters that it claims provides a comprehensive picture of the competitive landscape among countries of the world, despite their different stages of development.
These include public institutions, infrastructure, macroeconomic stability, health and education outreach, the sophistication of financial markets and labour markets and innovation. The sum of all these parameters is assumed to set the sustainable current and medium-term levels of economic prosperity.
Among the countries that saw the highest gains was Singapore, which moved up two places to 3rd position. The report came a day before IFC unveils its 2010 Doing Business Report.
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