Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

India Ranked 58th Most Competitive Economy in World Economy Forum Index

 India Ranked 58th Most Competitive Economy in World Economy Forum Index

The World Economic Forum’s (WEF’s) Global Competitiveness Index (GCI) has released the list of the most competitive economies of the world for the year 2018. Currently, India has been ranked 58th which is five places ahead of the 2017 rankings.

According to the WEF report, India scored 62.0 in the latest Global Competitiveness report and was the largest gainers among all G20 economies.

The report suggests that developing economies like China (at 28th Position) and India are improving in terms of economic growth and have outperformed the average among high-income economies.

Other than India and China, other BRIC economies like Russia has a score of 65.6 and is placed at a 43rd position, South Africa with a score of 62.0 is placed at 58th position, and Brazil is ranked at the 72nd position with a score of 59.5 points.

The U.S tops the list followed by Singapore (second position) and Germany (third position). The other countries which have been ranked among the top ten economies include Switzerland (4th), Japan (5th), Netherlands (6th), Hong Kong (7th), United Kingdom (8th), Sweden (9th) and Denmark (10th).

The list was prepared based on many factors which include different drivers of productivity such as infrastructure, education and skills, institutions, product and labor market, health, financial system, innovation, business dynamism, market size, macroeconomic context, and technological readiness. 

According to a report, it’s learned that India has shown improvements in expanding its market size that has primarily helped it score better in the rankings.




Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...