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India rank 55th on a global index

  • India secured 55th rank on global index of the world’s most competitive economies
  • World Economic Forum (WEF) said, India ranks better in investor protection, gross national savings, and quality of education system, venture capital availability, hiring and firing practices, GDP and domestic market size, public trust in politicians and burden of government regulation and needs improvement in areas like corruption, policy instability, inflation, technology and access to finance.
  • India rank has jumped 16 positions up and the underline reason for this jump is economic recovery happening in recent times.
  • Switzerland has retained its top position followed by Singapore, the US, Germany, the Netherlands Japan, Hong Kong, Finland, Sweden and the UK in the top-ten
  • South Africa and China retained their position in top 50 whereas the positions of Turkey and Brazil are dragged down because of macroeconomic instability
  • WEF report released assessed 140 countries on the basis of factors improving their productivity and prosperity

Source:ET

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