Table of Contents
WORLD ECONOMIC FORUM
- The World Economic Forum (WEF), based in Cologny-Geneva, Switzerland, was founded in 1971 as a not-for-profit organization.
“COMPETITIVENESS TEAM“ – WEF
- The Global Competitiveness Report (1979) measured competitiveness of countries and economies; The Global Information Technology Report (2001) assessed their competitiveness based on their IT readiness; the Global Gender Gap Report examined critical areas of inequality between men and women; the Global Risks Report (2006) assessed key global risks; the Global Travel and Tourism Report (2007) measured travel and tourism competitiveness; the Financial Development Report (2008)
GLOBAL COMPETITIVENESS REPORT
- The Global Competitiveness Report (GCR) –
- The index is an annual yardstick for policy-makers to look beyond short-term and reactionary measures and to instead assess their progress against the full set of factors that determine productivity.
- These are organized into 12 pillars
12 PILLARS
SHOCKER FOR INDIA
- India slipped sharply by 10 notches to 68th position in the Global Competitiveness Index, 2019, released by the World Economic Forum (WEF)
- India’s score fell in eight out of 12 parameters while other countries improved their domestic business environment faster than India. Iran (99) is the only other country out of 141 countries surveyed whose ranking also fell by 10 positions.
WHY DID INDIA LOST POINTS?
- “India, in 68th position, loses ground in the rankings despite a relatively stable score, mostly due to faster improvements of several countries previously ranked lower,” the WEF said.
NOTES
- In the overall competitiveness ranking, Singapore replaced the US to take the first position.
- In South Asia, India is followed by Sri Lanka (84), Bangladesh (105), Nepal (108) and Pakistan (110). India trails China by 40 places and 14 points even though China’s position remained unchanged from last year’s survey at 28.
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