World Competitiveness Index 2020

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News: World Competitiveness Index 2020 has been released by the Institute for Management Development(IMD).

Facts:

  • World Competitiveness Index is an annual report published since 1989.
  • Parameters: It ranks 63 countries using 235 indicators grouped under four factors: economic performance, government efficiency, business efficiency and infrastructure.

Key Takeaways:

  • Top Rankers: Singapore has topped the index followed by Denmark and Switzerland.
  • India: It has been ranked at 43rd in the index.In 2019 also, it was ranked at 43rd.
  • BRICS Countries: India is ranked second after China(20th) followed by Russia (50th), Brazil (56th) and South Africa (59th).