IMD’s World Competitiveness Index 2021: India maintains 43rd rank

World Competitiveness Index
India maintained 43rd rank on an annual World Competitiveness Index 2021 compiled by the Institute for Management Development (IMD) that examined the impact of COVID-19 on economies around the world this year. The IMD World Competitiveness Rankings List comprises a total of 64 nations. Innovation, digitalization, welfare benefits, and social cohesion were key to economic performance in the 2021 rankings.

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Important Key Points related to World Competitiveness Index 
  • It measures the prosperity and competitiveness of countries by examining four key factors (334 competitiveness criteria)

1. Economic Performance
2. Government Efficiency
3. Business Efficiency
4. Infrastructure

  • Note –The top-performing Asian economies are, in order, Singapore (fifth), Hong Kong (seventh), Taiwan (eighth) and China (16th).
  • Taiwan was ranked at 8th position, reaching among top-10 ranking for the first time in 33 years.It was ranked 11th in 2020. 
  • Among the BRICS nations, India is ranked second after China (16), followed by Russia (45th), Brazil (57th) and South Africa (62th).

Index in 2021

  • Rank 1: Switzerland
  • Rank 2: Sweden
  • Rank 3: Denmark
  • Rank 4: Netherlands

Index in 2020

  • Rank 1: Singapore
  • Rank 2: Denmark
  • Rank 3: Switzerland
  • Rank 4: Netherlands

Related Question

Consider the following about World Competitiveness Index report 2021-
(1) India was ranked at 43rd position among 64 countries.
(2) World Competitiveness Index compiled by the Institute for Management Development
Select the correct answer using the code given below-

(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) None of the above
Answer. (c)

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