Survey by: Switzerland-based IMD World Competitiveness Centre (WCC)
Improvement: India’s global competitiveness rank rose three notches to 41 from last year
Reasons: Significant improvement in exchange rate stability, fiscal deficit management and efforts to tackle corruption and red Tape However, the ranking is lower than the 35th position India secured in 2012
Plus points: Attractive economic indicators, cost competitiveness, skilled workforce and a dynamic economy
Drags: Higher consumer price inflation, lower public spending on education, tax revenue collection and merchandise exports
Challenges: Sustaining high growth rate, increasing the share of research and development in the economy and implementation of the Goods and Services TaxRegime, Infrastructure development and disbursing public benefits digitally
