India ranked 43rd in World Competitiveness Ranking
India climbed up one place to 43rd most competitive economy in the IMD World Competitiveness Ranking, owing to its robust economic growth, a large labour force and huge market size. Singapore has surpassed the US to grab the top position. The rankings integrate 235 indicators from each of the 63 ranked economies, evaluating their ability to foster an environment where enterprises can achieve sustainable growth, generate jobs and promote welfare for citizens.
The study also identified few challenges before the Indian economy: maintaining high growth, employment generation, digital literacy and internet bandwidth in rural areas, managing fiscal discipline, issues related to implementation of GST and resource mobilization for infrastructure development.