India slips to 68th position in World Economic Forum

India’s position has slipped down 10 spots to rank 68th in the annual global competitiveness index as several other economies in the world climbed up on the list due to improvements in economic and business activities. The findings, which surveyed 141 nations, reveal the impact of slowdown on the Indian economy. It is also one of the worst performers in the BRICS grouping, along with Brazil which secured a 71st rank. However, on the brighter side, the WEF observed that India’s rank is high in terms of macroeconomic stability and market size but added that the banking system has been affected by a high delinquency rate. Thus, India stood 2nd in the world for shareholder governance, 3rd in terms of market size and renewable energy regulation, and 15th in terms of corporate governance.