5 FACTS ABOUT INDIA'S COMPETITIVENESS GLOBALLY
India is now #40 out of 137 countries on the Global Competitiveness Index. Significantly, a new methodology for the index takes into account future-readiness. This includes adaptability and agility in the context of Industry 4.0.
India has improved its ranking on the technological-readiness pillar of the Global Competitiveness Index by 3 positions. Remarkable performance on the Internet and communications technologies or ICT indicators such as Internet bandwidth per user, mobile phone and broadband subscriptions, and Internet access in schools has helped India reach #107.
India's ranking on the infrastructure pillar of the Global Competitiveness Index improved by 2 places, to #66. The World Economic Forum measures effective modes of transport as well as extensive telecommunications network and electricity supply for this indicator.
Strides in higher education and training in India have helped the country rise by six points in the ranking for this parameter, to #75. This pillar measures enrolment in secondary educational institutions, the quality of education as well as on-the-job opportunities for upskilling, among other things.
India is among the top 50 countries globally on five out of 12 pillars measured by the Global Competitiveness Index. The pillars are institutions (#39), financial market development (#42), market size (#3), business sophistication (#39) and innovation (#29).