5 FACTS ABOUT INDIA'S COMPETITIVENESS GLOBALLY
1Future Readiness:

The Global Competitiveness Index integrates well-established facets with new and emerging drivers that determine productivity and growth of a country. These facets are systematized into 12 pillars, reflecting the level and complexity of the drivers of productivity and the competitiveness ecosystem. The key drivers are Infrastructure; ICT adoption; Macroeconomic stability; Health; Skills; Product market; Labour market; Financial system; Market size; Business dynamism; and Innovation capability.

India is ranked 58 out of 140 countries on the Global Competitiveness Index of the year 2018.1 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 ranks number 3 in the market size parameter.2

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2Technological Readiness:

India has improved its rank on the Enabling Environment Components pillar of the Global Competitiveness Index.1 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 number 58.2

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3Infrastructure Pillar:

India's ranking on the infrastructure pillar of the Global Competitiveness Index improved by 3 places to number 63.1 The World Economic Forum measures effective modes of transport as well as extensive telecommunications network and electricity supply for this indicator.

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4Higher Education:

Strides in higher education and training in India have helped the country rise by 42 points in the ranking for this parameter to number 33.1 This pillar measures enrolment in secondary educational institutions, the quality of education as well as on-the-job opportunities for upskilling, among other things.

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5Top 50:

India is among the top 50 countries globally on 5 out of 12 pillars measured by the Global Competitiveness Index. The pillars are institutions (rank 47), financial system (rank 35), market size (rank 3), macroeconomic stability (rank 49) and innovation capability (rank 31).1

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