U.S. Seventh Competitive Nation, India Slips Low

Bangalore: Which is the world's most competitive economy? While India ranked 59 as per the Global Competitiveness Report by the World Economic Forum, U.S. ranked seventh. Three Asian economies also figured in top 10. The competitiveness was measured using 12 pillars, namely Institutions, Infrastructure, Macroeconomic environment, Health and primary education, Higher education and training, Goods market efficiency, Labor market efficiency, Financial market development, Technological readiness, Market size, Business sophistication and Innovation.

The most 10 most competitive nations as per the World Economic Forum report are:

India:

To begin with India, it ranks 59th on the Global Competitive Index report, down three places from last year. Once ahead of Brazil and South Africa, India now follows them by some 10 places and lags behind China by a margin of 30 positions. India continues to be punished for its disappointing performance in the areas considered to be the basic factors behind competitiveness. The country’s supply of transport, ICT are also low.