India jumps 16 spots on Competitiveness Index

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29 Sep, 2016

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world-economic-400x400India jumped 16 places to 39th position in the World Economic Forum’s (WEF) 2016-17 Global Competitiveness Index (GCI) to emerge as the highest rising economy in the world.
Explanation: India jumped 16 places for the second year in a row to the 39th rank on the World Economic Forum’s (WEF) Global Competitiveness Index 2016-17. It was ranked 55th in 2015-16. This is the largest gain made by any country on the list.
Top nations include, Switzerland ranked the most competitive country for the eighth consecutive year, followed by Singapore, the United States, the Netherlands and Germany.
The rankings measure countries’ performance on three indicators — basic requirements, efficiency enhancers, and innovation and sophistication factor. Performance on these in turn is measured through sub-indicators.

Key factors
• Improved Monetary and Fiscal Policies
• Reforms on improving public institutions
• Opening the economy to foreign investors and international trade
• Increasing transparency in the financial system.




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