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<p>Hello Folks!</p>

<p>We are here with an article on the “<strong>World Competitiveness Index 2023”</strong>.  This report is published as an assessment of an economy’s people, their overall productivity and health of the world. We’ll be discussing further in the article about the ranking of different countries and the factors affecting them.</p>

<p>In 1989 the first IMD <strong>(International Institute for Management Development)</strong> World Competitiveness Yearbook (WCY) was published. It is an annual report on the competitiveness of nations. It is published by the Swiss-based International Institute for Management Development (IMD). This year’s edition especially focuses on the actions necessary for recovery in the COVID-19 pandemic.</p>

<p>The IMD <em>World Competitiveness Ranking </em>ranks a total of 64 economies. It evaluates a country’s ability to promote the welfare of its people. It measures economic well-being through data and survey reports from executives. This year the ranking was on the basis of the economic impact of the pandemic.</p>

<p>Investment in innovation, digitalization, welfare benefits, and leadership have helped countries fight the crisis better.</p>

<p>The countries were ranked on the basis of four factors:</p>

<ul>
	<li>Economic performance</li>
	<li>Government Efficiency</li>
	<li>Business Efficiency</li>
	<li>Infrastructure</li>
</ul>

<h2><strong>World Competitiveness Index: Top 10 countries</strong></h2>

<table>
	<tbody>
		<tr>
			<td><strong>2023</strong></td>
			<td><strong>Countries</strong></td>
			<td><strong>2022</strong></td>
		</tr>
		<tr>
			<td>1</td>
			<td>Denmark</td>
			<td>1</td>
		</tr>
		<tr>
			<td>2</td>
			<td>Ireland</td>
			<td>11</td>
		</tr>
		<tr>
			<td>3</td>
			<td>Switzerland</td>
			<td>2</td>
		</tr>
		<tr>
			<td>4</td>
			<td>Singapore</td>
			<td>3</td>
		</tr>
		<tr>
			<td>5</td>
			<td>Netherlands</td>
			<td>6</td>
		</tr>
		<tr>
			<td>6</td>
			<td>Taiwan</td>
			<td>7</td>
		</tr>
		<tr>
			<td>7</td>
			<td>Hong Kong</td>
			<td>5</td>
		</tr>
		<tr>
			<td>8</td>
			<td>Sweden</td>
			<td>4</td>
		</tr>
		<tr>
			<td>9</td>
			<td>USA</td>
			<td>10</td>
		</tr>
		<tr>
			<td>10</td>
			<td>UAE</td>
			<td>12</td>
		</tr>
	</tbody>
</table>

<h2><strong>India’s Scenario</strong></h2>

<p>India ranked 40th this year <em>on the IMD World Competitiveness Ranking. Areas like exchange rate stability, compensation levels and advancements in pollution control</em> recorded improvements.</p>

<p>However, it has moved down in areas like exchange rate stability, compensation levels and advancements in pollution control. There were weaknesses in sustaining high GDP growth, managing financial market volatility, controlling inflation and fiscal deficit, accelerating digital transformation and mobilising resources for infrastructure development.</p>

<h3><strong>India’s Ranking in the past 5 years</strong></h3>

<table>
	<tbody>
		<tr>
			<td>2019</td>
			<td>2020</td>
			<td>2021</td>
			<td>2022</td>
			<td>2023</td>
		</tr>
		<tr>
			<td>43</td>
			<td>43</td>
			<td>43</td>
			<td>37</td>
			<td>40</td>
		</tr>
	</tbody>
</table>

<h2><strong>About IMD:</strong></h2>

<p> President: Jean-François Manzoni</p>

<p> Location: Lausanne, Switzerland</p>

<h2><strong>About BRICS:</strong></h2>

<ul>
	<li>Brazil, Russia, India, China, and South Africa</li>
	<li>15th BRICS summit wil be held in August 2023 by South Africa.</li>
</ul>

<p>This brings us to the end of this article on <em>World Competitiveness Index 2023</em>. We covered here the important factors which affects a country’s ranking in the index. How India is coping up with the pandemic and trying to revive the economy.</p>

<p>Stay tuned for more such updates.</p>


<p>Hello Folks!</p>

<p>We are here with an article on the &ldquo;<strong>World Competitiveness Index 2023&rdquo;</strong>. &nbsp;This report is published as an assessment of an economy&rsquo;s people, their overall productivity and health of the world. We&rsquo;ll be discussing further in the article about the ranking of different countries and the factors affecting them.</p>

<p>In 1989 the first IMD&nbsp;<strong>(International Institute for Management Development)</strong>&nbsp;World Competitiveness Yearbook (WCY) was published. It is an annual report on the competitiveness of nations. It is published by the Swiss-based International Institute for Management Development (IMD). This year&rsquo;s edition especially focuses on the actions necessary for recovery in the COVID-19 pandemic.</p>

<p>The&nbsp;IMD&nbsp;<em>World Competitiveness Ranking&nbsp;</em>ranks a total of 64 economies. It evaluates a country&rsquo;s ability to promote the welfare of its people. It measures economic well-being through data and survey reports from executives. This year the ranking was on the basis of the economic impact of the pandemic.</p>

<p>Investment in innovation, digitalization, welfare benefits, and leadership have helped countries fight the crisis better.</p>

<p>The countries were ranked on the basis of four factors:</p>

<ul>
	<li>Economic performance</li>
	<li>Government Efficiency</li>
	<li>Business Efficiency</li>
	<li>Infrastructure</li>
</ul>

<h2><strong>World Competitiveness Index: Top 10 countries</strong></h2>

<table>
	<tbody>
		<tr>
			<td><strong>2023</strong></td>
			<td><strong>Countries</strong></td>
			<td><strong>2022</strong></td>
		</tr>
		<tr>
			<td>1</td>
			<td>Denmark</td>
			<td>1</td>
		</tr>
		<tr>
			<td>2</td>
			<td>Ireland</td>
			<td>11</td>
		</tr>
		<tr>
			<td>3</td>
			<td>Switzerland</td>
			<td>2</td>
		</tr>
		<tr>
			<td>4</td>
			<td>Singapore</td>
			<td>3</td>
		</tr>
		<tr>
			<td>5</td>
			<td>Netherlands</td>
			<td>6</td>
		</tr>
		<tr>
			<td>6</td>
			<td>Taiwan</td>
			<td>7</td>
		</tr>
		<tr>
			<td>7</td>
			<td>Hong Kong</td>
			<td>5</td>
		</tr>
		<tr>
			<td>8</td>
			<td>Sweden</td>
			<td>4</td>
		</tr>
		<tr>
			<td>9</td>
			<td>USA</td>
			<td>10</td>
		</tr>
		<tr>
			<td>10</td>
			<td>UAE</td>
			<td>12</td>
		</tr>
	</tbody>
</table>

<h2><strong>India&rsquo;s Scenario</strong></h2>

<p>India ranked 40th&nbsp;this&nbsp;year&nbsp;<em>on the IMD World Competitiveness Ranking. Areas like exchange rate stability, compensation levels and advancements in pollution control</em>&nbsp;recorded improvements.</p>

<p>However, it has moved down in areas like exchange rate stability, compensation levels and advancements in pollution control. There were weaknesses in sustaining high GDP growth, managing financial market volatility, controlling inflation and fiscal deficit, accelerating digital transformation and mobilising resources for infrastructure development.</p>

<h3><strong>India&rsquo;s Ranking in the past 5 years</strong></h3>

<table>
	<tbody>
		<tr>
			<td>2019</td>
			<td>2020</td>
			<td>2021</td>
			<td>2022</td>
			<td>2023</td>
		</tr>
		<tr>
			<td>43</td>
			<td>43</td>
			<td>43</td>
			<td>37</td>
			<td>40</td>
		</tr>
	</tbody>
</table>

<h2><strong>About IMD:</strong></h2>

<p>&nbsp;President: Jean-Fran&ccedil;ois Manzoni</p>

<p>&nbsp;Location: Lausanne, Switzerland</p>

<h2><strong>About BRICS:</strong></h2>

<ul>
	<li>Brazil, Russia, India, China, and South Africa</li>
	<li>15th BRICS summit wil be held in&nbsp;August&nbsp;2023&nbsp;by South Africa.</li>
</ul>

<p>This brings us to the end of this article on&nbsp;<em>World Competitiveness Index 2023</em>. We covered here the important factors which affects a country&rsquo;s ranking in the index. How India is coping up with the pandemic and trying to revive the economy.</p>

<p>Stay tuned for more such updates.</p>


World Competitiveness Index 2023 – India Maintains 40th Rank on IMD

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