India ranks 43rd most competitive economy in the world in IMD World Competitiveness Rankings-2019. India has moved up one place than previous ranking. Singapore secured top position from the third position last year, however US has slipped to the third place in the 2019 edition of the IMD World Competitiveness Rankings.
Singapore has ranked as the world’s most competitive economy for the first time since 2010.
• Hong Kong SAR and USA are on second and third positions respectively.
• Switzerland grabbed the fourth place, thanks to economic growth, the stability of the Swiss franc and high-quality infrastructure.
• The United Arab Emirates (UAE) entered the top five for the first time earlier in 2016 it was ranked 15th.
• India has gained one point benefit by coming to 43rd position. Benefit in ranking was a result of Improvements in business legislation, increase in public expenditure on education.
• India has scored well on several economic parameters and tax policies but has lagged in terms of public finance, societal framework, education infrastructure, health and environment.
It is basically a list which is compiled by the Switzerland-based International Institute for Management and Development (IMD)’s World Competitiveness Center (WCC). In order to facilitate long-term value creation, The IMD measures how well countries manage all their resources and competencies.