Recently, the annual World Competitiveness Index was released by the Institute for Management Development (IMD).
Key Highlights of the Report
How are rankings computed?
Reasons for India’s Good Performance
What are the recent steps taken by India to increase its Competitiveness?
An economy’s competitiveness cannot be reduced only to GDP and productivity because enterprises also have to cope with political, social and cultural dimensions. Governments therefore need to provide an environment characterized by efficient infrastructures, institutions and policies that encourage sustainable value creation by the enterprises.
Q1) According to the annual World Competitiveness Index 2022 released recently, India has improved its ranking among Asian economies. In this context, elaborate on the major factors responsible for increasing India’s ranking.
Q2) What are the current challenges India is facing in achieving competitiveness measures?
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