IMD World Competitiveness Ranking India's rank?
VerifiedAnswer: 43
Explanation:
The IMD World Competitiveness Yearbook is one of the most prestigious global rankings that evaluates how well countries create and maintain an environment where businesses can compete effectively. According to the latest rankings, India holds the 43rd position out of 64 economies assessed worldwide.
The IMD World Competitiveness Center, based in Switzerland, has been publishing this comprehensive ranking since 1989. The assessment examines four main factors that determine a country's competitiveness: Economic Performance, Government Efficiency, Business Efficiency, and Infrastructure. Each of these categories is further divided into multiple sub-factors, creating a detailed analysis of 333 competitiveness criteria.
India's ranking at 43rd position reflects both the country's strengths and areas that need improvement. The nation performs well in certain aspects like domestic economy size, cost competitiveness, and the availability of skilled workforce. India's large consumer market and growing digital infrastructure have been positive factors contributing to its competitiveness score.
However, challenges remain in areas such as basic infrastructure development, ease of doing business procedures, and institutional framework efficiency. These factors have prevented India from achieving a higher ranking despite its economic growth potential and demographic advantages. The country continues to work on reforms in these areas to improve its overall competitiveness position.
Understanding India's position in global competitiveness rankings helps students appreciate the complex factors that influence a country's economic success and business environment. This knowledge is valuable for those studying economics, business studies, or preparing for competitive examinations that cover current affairs and economic indicators.
