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Mahesh

20/06/22 20:18 PM IST

World Competitiveness Index 2022

In News 
  • India  has seen the sharpest growth among the Asian economies, with a six-position jump from 43rd to 37th rank on the annual World Competitiveness Index 2022.
Highlights of the Index 
  • Denmark has moved to the top of the 63-nation list from the third position last year, while Switzerland slipped from the top ranking to the second position and Singapore regained the third spot from fifth.
  • The top-performing Asian economies are Singapore (3th), Hong Kong (5th), Taiwan (7th), China (17th) and Australia (19th).
  • Both Russia and Ukraine were not assessed in this year’s edition due to the limited reliability of data collected.
India's Performance 
  • Economic performance: It has improved from 37th in 2021 to 28th in 2022.
  • Government efficiency: It has improved from 46th in 2021 to 45th in 2022.
  • Business efficiency: It saw a huge improvement from 32nd rank in 2021 to 23rd in 2022.
  • Infrastructure: It on the other hand, saw no change at 49.
About IMD 
  • The IMD World Competitiveness Yearbook (WCY), first published in 1989, is a comprehensive annual report and worldwide reference point on the competitiveness of countries.
  • It analyzes and ranks countries according to how they manage their competencies to achieve long-term value creation.

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