India Ranks 51 in Digital Competitiveness
International Institute for Management Development, this year reported India at 51 rank, out of 67 regions, digitally assessed. In the course of two years, India had been continuously falling from its ranking over the period of two years. According to the report, India was ranked in 49 in 2023 and 44 in 2022.
Singapore was the first in the rankings of this year, while Switzerland and Denmark came second and third in line.
India held the same rank in knowledge at number 45 for the second consecutive year. It has dropped a rank in the ranking on technology. India ranked 53rd in 2024, while it ranked 50th in 2023. However, according to the IMD report, India had moved up one rank in 'future readiness' at number 52 in 2024.
As mentioned in the report, some of the significant challenges for India's economy are threats by the use of AI to employment opportunities in the services sector, the trade-off between the energy security and economic growth against energy transition, a drop in FDI, rising geopolitical tensions, and furthering skilled manpower. "Challenging what is and inspiring what could be, we develop leaders and organizations that contribute to a more prosperous, sustainable and inclusive world", according to IMD's report.
Besides that, navigate the challenges triggered by an uncertain external environment in the midst of heightened geopolitical tensions, enhance its economic competitiveness amid the resource constraints, seize opportunities and manage disruptions from new technologies such as AI by supporting workers in reskilling and businesses in transformation are the key challenges for the world leader of this ranking, Singapore.
India scored 52.5, 46.4 and 49.5 in knowledge, technology, and future readiness respectively. In comparison, Singapore, who stands at the top position in ranking, scores 95.4, 97.6 and 100 in knowledge, technology, and future readiness respectively. That's to say, as per the ranking, India has still behind roughly half percent scores in each of the domains to achieve the world leadership position.
