5 FACTS ABOUT INDIA'S COMPETITIVENESS GLOBALLY
1Future Readiness
  • India has ranked 68th out of 141 countries on the Global Competitiveness Index 4.0 of the year 2019.
  • 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, Macroeconomic Stability, Institutions, Skills, ICT (Information and Communication Technology) Adoption, Health, Product Market, Labour Market, Financial system, Business Dynamism, Market size and Innovation Capability.

 

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2Market
  • India’s performance on the ‘Market Size' pillar has been outstanding. The country is globally ranked 3rd out of 141 economies.
  • On the ‘Macroeconomic Stability’ pillar, India has performed well too ranking within top 50, standing at the 43rd position. Moreover, India has ranked 40th on the ‘Financial System’ pillar which measures indicators such as market capitalization, venture capital availability, soundness of banks and credit gap.

 

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3Technology and Innovation
  • India is ahead of most of the economies and has ranked 35th on the ‘Innovation Capability’ pillar. It has also performed well in ‘Technology Governance’ which defines how quickly the legal framework of a country is adapting to digital business models. India has ranked 25th out of 141 economies in ‘Technology Governance’.

 

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4Infrastructure
  • India's ranking on the 'Infrastructure' pillar of the Global Competitiveness Index is 70. The World Economic Forum measures effective modes of transport as well as extensive telecommunications network and electricity supply for this indicator. India is ranked 28th in Transport Infrastructure, 25th in Linear Shipping Connectivity and 4th in Airport Connectivity.

 

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5Institutions
  • The ‘Institutions’ pillar of the Global Competitiveness Index 4.0 2019 ranks a country based on many indicators some of which are Public Sector Performance, E-participation, Corporate Governance and Future Orientation of Government.
  • India has performed quite well and stands on the 59th position on the pillar. The country ranks 15th in the following sub-attributes:
    • Corporate Governance
    • E-participation
    • Future Orientation of Government

 

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Updated August 2020