Global Competitiveness Index
The Global Competitiveness Report published by the World Economic Forum since 2004 ranks countries based on the Global Competitiveness Index. The Global Competitiveness Index integrates the macroeconomic and the micro/business aspects of competitiveness into a single index. The report "assesses the ability of countries to provide high levels of prosperity to their citizens". This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity.
It is made up of over 110 variables, of which two thirds come from the Executive Opinion Survey, and one third comes from publicly available sources such as the United Nations. The report has twelve pillars of competitiveness:
- Institutions
- Appropriate infrastructure
- Stable macroeconomic framework
- Good health and primary education
- Higher education and training
- Efficient goods markets
- Efficient labor markets
- Developed financial markets
- Ability to harness existing technology
- Market size - both domestic and international
- Production of new and different goods using the most sophisticated production processes
- Innovation
The Global Competitiveness Report published by the World Economic Forum since 2004 ranks countries based on the Global Competitiveness Index. The Global Competitiveness Index integrates the macroeconomic and the micro/business aspects of competitiveness into a single index. The report "assesses the ability of countries to provide high levels of prosperity to their citizens". This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity.
It is made up of over 110 variables, of which two thirds come from the Executive Opinion Survey, and one third comes from publicly available sources such as the United Nations. The report has twelve pillars of competitiveness:
- Institutions
- Appropriate infrastructure
- Stable macroeconomic framework
- Good health and primary education
- Higher education and training
- Efficient goods markets
- Efficient labor markets
- Developed financial markets
- Ability to harness existing technology
- Market size - both domestic and international
- Production of new and different goods using the most sophisticated production processes
- Innovation
SUBJECT Variables
OVERALL PERFORMANCE
- In 2019, India got an overall score of 61.4 on a scale of 100 on the Global Competitiveness Index (GCI) - equating to a 61% achievement on the index. India's performance in 2019 has marginally dropped by 0.6% over 2018.
- India is currently ranked 68th amongst 141 countries on the Global Competitiveness Index. India's overall ranking has dropped by 10 positions between 2018 and 2019.
- India continues to lag behind in areas such as IT adoption and labour market conditions where it is ranked 120th and 103rd respectively in 2020.
PERFORMANCE PILLARS
The GCI is made up of over 110 variables, grouped under twelve pillars of competitiveness.
Institutions
This performance pillar factors results from areas such as security, budget transparency, judicial independence, freedom of press, corruption, property rights, corporate governance, govt vision and responsiveness to change.
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