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About The World Competitiveness Index


Recently, the International Institute for Management Development (IMD) published the World Competitiveness Index.


GS II: Inernational Relations

Dimensions of the Article:

  1. About World Competitiveness Index
  2. Key Points from the Index

About World Competitiveness Index

  • History: The IMD World Competitiveness Yearbook (WCY) was first published in 1989.
  • Purpose: It serves as a comprehensive annual report and global benchmark for assessing the competitiveness of countries.
  • Criteria: The index analyzes and ranks countries based on 336 competitiveness criteria, focusing on four key factors: Economic performance, Government efficiency, Business efficiency, and Infrastructure.

Key Points from the Index:

  • Top Performers: Denmark, Ireland, and Switzerland secured the top three positions among the 64 economies assessed for global competitiveness.
  • India’s Ranking: India dropped three places to finish at the 40th position in the index. However, it still showed improvement compared to its consistent ranking of 43rd between 2019 and 2021.
  • Areas of Improvement: India exhibited progress in government efficiency. However, it lagged behind in business efficiency, infrastructure, and economic performance compared to other countries.
  • Positive Factors: India’s score benefited from factors such as exchange rate stability, compensation levels, and advancements in pollution control.

-Source: The Economic Times

December 2023