New Delhi: India has been ranked 37th in this year’s World Competitiveness Index by the Institute of Management Development, a Swiss-based business education and research institute. India was ranked 44th in 2018 and 43rd from 2019 to 2021.
Denmark, which was third last year, came in first this time. Switzerland came in second. Singapore went from five to three. Sweden is fourth. Hong Kong in fifth place. The other countries in the top ten are the Netherlands, Taiwan, Finland, Norway and the United States respectively. A total of 63 countries are on the list. Venezuela is ranked 63rd.
India’s only neighbor on the list is China; Rank 17. Rank assessment was based on 5 factors namely job skills, competitiveness value, dynamic economy, quality of education and positive attitude.
“India’s ranking gains are due to measures taken by Prime Minister Modi to improve the country’s performance by gaining the credibility of the business community, including subsequent tax reforms.”
-Institute of Management Development