World Economic Forum has ranked India 39th in its latest Global Competitiveness Report for 2016-17, based on its twelve criteria system.
India rose 16 ranks to the 39th position over past year in Global Competitiveness Index. This is seen as a big scale improvement in competitiveness among all other countries. One of the reasons for improvement in India’s rank is increase in institutions and infrastructure.
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WEF welcomed increased transparency in the financial system and reckons more positive returns from GST regime.
India is way ahead of other South Asian economies. Though, Sri Lanka ranks surprisingly ahead of India in ‘technological readiness’.