India has been ranked as the 58th most competitive economy on the World Economic Forum’s global competitiveness index for 2018.
India’s rank rose by five places from 2017, the largest gain among G20 economies.
According to the report, the top performers in the upper and lower middle-income brackets, India is catching up or even outperforming the average among high-income economies.
According to the report, India leads the region in all other areas of competitiveness except for health, education and skills. The report even added that India’s greatest competitive advantages include its market size and innovation. On the list of 140 economies, the US topped the list followed by Singapore and Germany. India was ranked 58th with a score of 62.0 in the latest Global Competitiveness Report.
(with inputs from agencies)