India 50th in WEF rank

India 50th in WEF rank

By agencies   |   Thursday, 29 September 2005, 07:00 Hrs
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NEW YORK: India is just a place behind rival China as far as the competitiveness of their economies is concerned, an analysis by the World Economic Forum shows.

In a new report, the Forum has ranked India at 50th position, just one rank below China in the Growth Competitiveness Index. However one cheering fact about the report while New Delhi is that it has moved up five ranks above than last year, China has fallen three ranks below.

The WEF said India improved its position because of higher rank in the area of technology.

Despite achieving excellent growth performance in recent years, India continues to suffer from institutional weaknesses that are likely to slow down its ascension to the top tier of the most competitive economies of the world, the WEF said.

India gets overall 4.04 points compared with China has got 4.07.

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