India ranks 40th in 2017 Global Competitiveness Index

World Economic Forum (WEF) released the Global Competitiveness Report, in Switzerland

 India was placed at 40th spot among 137 countries.

• GCI scores are calculated on basis of 12 categories called ‘pillars of competitiveness’ which covers both business and social indicators.
• Top 5 Countries are: Switzerland occupies the 1st position, United States 2nd position, Singapore 3rd position, Netherlands 4th position and Germany 5th position.
• The Global Competitiveness Index (GCI) is prepared on the basis of country-level data under 12 categories of competitiveness.

The 12 categories of competitiveness and India’s score in these categories are:

• Institutions, Infrastructure
• Macroeconomic environment
• Health and primary education
• Higher education and training
• Goods market efficiency(56th rank), Labour market efficiency
• financial market development
• Technological readiness(107th rank)
• Market size
• Business sophistication
• Innovation

India remains most competitive country in South Asia. India has slipped by one position compared to 39th spot in 2016 GCI.