20 JUN,2022 | MEDC
Moving up in competitiveness: India witnessed a six position jump from 43rd to 37th rank on the annual World Competitiveness Index, compiled by the Institute of Management Development (IMD). This is the sharpest rise amongst Asian economies and is largely due to gains in economic performance. The domestic economy saw a rise from 30th to 9th position in a year, while the labour market, a key sub-factor in the business efficiency parameter, moved up from 15th to 6th position. Management practices, business attitudes and values have also made a major leap ahead. All this signals that the Indian economy is finally coming of age, and going all out to grasp progressive reform. That necessitates a once-in-a-generation show of political courage, persuasion and policy ingenuity, which now seems to be forthcoming.
Picture Credit: Google