As per the annual rankings compiled by International Institute for Management Development (IMD), India ranks 44th.
- The list was topped by the US which became the most competitive economy globally driven by its strength in economic performance and infrastructure.
- It was followed by Hong Kong and Singapore in the second and third place, respectively.
- India has moved up to 44th position worldwide, up one rank from last year.
- It is ranked the 12th most competitive economy out of the 14 Asian countries on the list.
- China was ranked 13th, It continued with its steady rise in rankings over the past five years.
- This year total 63 countries were ranked out of which Saudi Arabia and Cyprus were the new additions.
- The top 10 countries as per IMD competitiveness rankings are-
- US
- HongKong
- Singapore
- Netherlands
- Switzerland
- Denmark
- UAE
- Norway
- Sweden
- Canada
- The IMD World Competitiveness Center is a research group at IMD business school in Switzerland.
- It has been publishing the competitiveness rankings every year since 1989.
