World Competitiveness Index

About the World Competitiveness Index:

• The IMD World Competitiveness Yearbook (WCY), was first published in 1989.
• It is a comprehensive annual report and worldwide reference point on the competitiveness of countries.
• It analyses and ranks countries according to how they manage their competencies to achieve long-term value creation.
• It is based on 336 competitiveness criteria and four factors, namely Economic performance, Government efficiency, Business efficiency, and Infrastructure.

Key Points of the Index

• Denmark, Ireland, and Switzerland have been named the top three among 64 economies measured for their global competitiveness.
• India fell three rungs to finish 40th but is still in a better position than it was between 2019-2021 when it was placed 43rd three years in a row.
• India improved in government efficiency but fared slightly poorer than other countries in business efficiency, infrastructure, and economic performance.
• Specifically, the top three measures that helped India in its score are exchange rate stability, compensation levels, and improvements in pollution control.