Klaus Schwab, founder and executive chairman of WEF, said, “The Global Competitiveness Index 4.0 provides a compass for thriving in the new economy where innovation becomes the key factor of competitiveness. India, which was ranked 58th in the annual Global Competitiveness Index compiled by Geneva-based World Economic Forum (WEF), is among the worst-performing BRICS nations along with Brazil (ranked even lower than India at 71st this year). “The report shows that those countries which integrate into their economic policies an emphasis on infrastructure, skills, research and development and support those left behind are more successful compared to those that focus only on traditional factors of growth.”. The new index sheds light on an emerging set of drivers of productivity and long-term growth in the era of the Fourth Industrial Revolution. Context: Global Talent Competitive Index (GTCI) for 2020 has been released. The IMD World Competitiveness Yearbook is the leading annual report on the competitiveness of nations. Key Facts Top 5 Countries: Switzerland (1st), Singapore (2nd), United States (3rd), Netherlands (4th) and Germany (5th). As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. Hong Kong SAR is ranked 3rd, Netherlands is 4th and Switzerland is ranked 5th. See the different formats available for purchase and find the best solution for your needs. The WEF said the drop of 10 places in India’s position to 68th place may look dramatic, but the decline in the country’s competitiveness score is relatively small. According to the report, India’s slide in the competitiveness rankings began in 2009, when its economy was still growing at 8.5 per cent (it even grew by 10.3 per cent in 2010). We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. The index was released as part of the World Economic Forum’s (WEF) Global Competitiveness Report for 2016-17. Move smoothly between articles as our pages load instantly. It’s a support for truth and fairness in journalism. The presence of many competitive countries in Asia-Pacific makes this region the most competitive in the world, followed closely by Europe and North America. What to study? 1. Discover the 2018 edition’s rankings, key findings, your economy’s scorecard, and much more. In terms of the market size, India is ranked third, while it has got the same rank for renewable energy regulation. “The leading economies in the index all possess a track record in developing, accessing and utilising available talent, as well as in making investments that boost innovation. The Hindu Explains | How effective are the two COVID-19 vaccines rolled out in India, and are there concerns about safety? Global Competitiveness Report and India’s Performance India’s rank fell from 58 to 68 in Global Competitiveness ranking 2019. The Global Competitiveness Report (GCR) is a yearly report published by the World Economic Forum.Since 2004, the Global Competitiveness Report ranks countries based on the Global Competitiveness Index, developed by Xavier Sala-i-Martin and Elsa V. Artadi. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. Singapore has become the world’s most competitive economy in 2019, pushing the U.S. to the second place. India has climbed eight places to 72nd rank in the 2020 Global Talent Competitiveness Index (GTCI), which was topped by Switzerland, the US and Singapore. All these countries have a rich natural and cultural resources and strong price competitiveness in theirs economies. Russia is ranked at 53rd position, followed by South Africa (56) and Brazil (57). “This in turn could result in more employment opportunities for the country’s rapidly growing population,” it added. Ltd South Beach Tower 38 Beach Road #17-11 Singapore 189767. And although India has made gradual progress on some of these counts, the pace of change needs acceleration if the country is not to backslide. Global Competitiveness of Indian Pharmaceutical Industry: Trends and Strategies. Try this PYQ from CSP 2019. The Global Competitiveness Report is attracting coverage around the world: India continues to climb (Wall Street Journal), the Brexit vote puts Britain's competitiveness at risk (The Guardian), Hong Kong slips two spots (South China Morning Post), and declining openness is a 'major threat' (Deutsche Welle). However, the current reality is far from it. New Delhi: India has dropped 10 positions, ranking 68 out of the 141 economies surveyed, in the World Economic Forum’s (WEF’s) Global Competitiveness Report for 2019. Sources: the Hindu. This year’s Global Competitiveness Report is the latest edition of the series launched in 1979 that provides an annual assessment of the drivers of productivity and long-term economic growth. The framework explains competitiveness in a business context that has increasingly become knowledge intensive and human resource driven. Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list. India has climbed eight places to 72nd rank in the 2020 Global Talent Competitiveness Index (GTCI), which was topped by Switzerland, the US and Singapore. Global Competitiveness Report is published by the World Economic Forum (WEF). A one-stop-shop for seeing the latest updates, and managing your preferences. Jaya Prakash Pradhan It has helped us keep apace with events and happenings. We promise to deliver quality journalism that stays away from vested interest and political propaganda. These include Saudi Arabia (24th rank), Turkey (45), Mexico (61), Nigeria (127th), South Africa and Brazil - all of them have slipped in their rankings. India was ranked 58th with a score of 62.0 in the latest Global Competitiveness Report. Learn more facts about Global Competitive Report 2019 and India’s rank in Global Competitiveness Index (GCI 4.0). WEF further said that India needs to create a sound and stable institutional framework for local and foreign investors as well as improve connectivity. You can support quality journalism by turning off ad blocker or purchase a Subscription for unlimited access: Global Competitiveness. For a backlash against capitalism, globalization, technology, and managing preferences. Oy jp Development Oy Pekka Niku Pekka Komulainen global competitiveness report the hindu Ahveninen ) was launched in 2013 is... 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