India 39th in Global Competitiveness Index

IAS Prelims 2023

India has ranked 39th in the Global Competitiveness Index (GCI).

The Global Competitiveness Report (GCR) is a yearly report published by the World Economic Forum.

Since 2004, the Global Competitiveness Report ranks countries based on the Global Competitiveness Index, developed by Xavier Sala-i-Martin and Elsa V. Artadi.

Before that, the macroeconomic ranks were based on Jeffrey Sachs’s Growth Development Index and the microeconomic ranks were based on Michael Porter’s Business Competitiveness Index.

The Global Competitiveness Index integrates the macroeconomic and the micro/business aspects of competitiveness into a single index.

The report “assesses the ability of countries to provide high levels of prosperity to their citizens. This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity.”

The report also highlighted that India happens to be the second-most competitive economy among the BRICS (Brazil, Russia, India, China and South Africa) countries, with China ahead at 28th spot.

Switzerland, Singapore and the United States remained the world’s most competitive economies in the report that assesses the competitiveness landscape of 138 economies, providing insight into the drivers of their productivity and prosperity.

The Global Competitiveness Report 2016–2017:

  1. Switzerland
  2. Singapore
  3. United States
  4. Netherlands
  5. Germany
  6. Sweden
  7. United Kingdom
  8. Japan
  9. Hong Kong SAR
  10. Finland
  11. Norway
  12. Denmark
  13. New Zealand
  14. Chinese Taipei
  15. Canada
  16. United Arab Emirates
  17. Belgium
  18. Qatar
  19. Austria
  20. Luxembourg
  21. France
  22. Australia
  23. Ireland
  24. Israel
  25. Malaysia
  26. Korea, Rep.
  27. Iceland
  28. China
  29. Saudi Arabia
  30. Estonia
  31. Czech Republic
  32. Spain
  33. Chile
  34. Thailand
  35. Lithuania
  36. Poland
  37. Azerbaijan
  38. Kuwait
  39. India
  40. Malta
  41. Indonesia
  42. Panama
  43. Russian Federation
  44. Italy
  45. Mauritius
  46. Portugal

138. Yemen (Last)