India climbs to 55th of 140 in global competitiveness

INVwefAccording to the World Economic Forum (WEF) India has jumped 16 places and is now 55th among 140 countries on the Global Competitiveness Index that is an annual assessment to gauge factors driving productivity and prosperity. It measures the country’s performance on various aspects such as health, education, market efficiency etc.

A big improvement was seen in India’s macroeconomic stability through the past year, part of which could reflect the recent moderation in inflation, the fall in the current account deficit and steps taken by the government to control its fiscal deficit.