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World's 20 most competitive nations; India at No 32

Last updated on: May 19, 2011 08:54 IST

World's 20 most competitive nations; India at No 32

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India slipped one rank, to 32nd position in overall competitiveness among 59 nations, according to the 'World Competitiveness Rankings', announced by the International Institute for Management Development, Lausanne (Switzerland).

"Though India's ranking is below the midway mark, it still did better than Indonesia (37) Philippines (41), Brazil (44) and Russia (49)," said a press release by the National Productivity Council of India.

Sharply different trends were observed in India's ranking in four major parameters.

While the ranking relating to economic performance, government efficiency and infrastructure availability marginally improved, India slipped on business efficiency, which pulled down its overall ranking.

On government efficiency, which includes fiscal management and business legislation, India went up to 29th rank in 2011 from 30th rank in 2010.

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Image: 59 countries have been ranked based on competitiveness.

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In economic performance, a macroeconomic evaluation of the domestic economy and related to areas like trade, investments, employment and prices, the position of India improved by two ranks to 18th place.

In the case of infrastructure availability to meet basic, technological, scientific and human resources needs of business, the country improved its position to 50th rank in 2011, from the 54th position last year.

This indicates the considerable infrastructure investment of recent years have started showing results, the statement said.

However, on the business efficiency parameter, relating to productivity and management practices, India slipped from 17th rank in 2010 to 22nd rank in 2011.

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Image: Overall competitiveness of the US was rescued by its business efficiency.

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World's 20 most competitive nations; India at No 32

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India. Score: 70.649

2011 Ranking: 32

2010 Ranking: 31

Sharply different trends were observed in India's ranking in four major parameters.

While the ranking relating to economic performance, government efficiency and infrastructure availability marginally improved, India slipped on business efficiency, which pulled down its overall ranking.

On government efficiency, which includes fiscal management and business legislation, India went up to 29th rank in 2011 from 30th rank in 2010.

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Image: Sharply different trends were observed in India.

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World's 20 most competitive nations; India at No 32

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Hong Kong. Score: 100.000

2011 Ranking: 1

2010 Ranking: 2

Hong Kong tops the list due to its financial market development, and because the quality of its transport, energy, and telephony infrastructure is simply outstanding.

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Image: Hong Kong tops the list.

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World's 20 most competitive nations; India at No 32

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United States. Score: 100.000

2011 Ranking: 1

2010 Ranking: 3

America is the joint No. 1 in terms of being competitive, alongside Hong Kong. Combined with the scale opportunities afforded by the sheer size of its domestic economy - the largest in the world by far - these qualities continue to make the United States very competitive.

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Image: Sheer scale of the US economy boosts its position.

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World's 20 most competitive nations; India at No 32

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Singapore. Score: 98.557

2011 Ranking: 3

2010 Ranking: 1

Singapore has world-class infrastructure, with excellent roads, ports, and air transport facilities.

In addition, the country's competitiveness is buttressed by a strong focus on education, providing individuals with the skills needed for a rapidly changing global economy.

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Image: Singapore has world-class infrastructure.

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Sweden. Score: 94.063

2011 Ranking: 4

2010 Ranking: 6

The country benefits from the world's most transparent and efficient public institutions, with very low levels of corruption and undue influence and a government that is considered to be one of the most efficient in the world: public trust of politicians is ranked high.

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Image: Sweden has world's most transparent and efficient public institutions.

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Switzerland. Score: 92.588

2011 Ranking: 5

2010 Ranking: 4

Public institutions in Switzerland are among the most effective and transparent in the world.

Governance structures ensure a level playing field, enhancing business confidence; these include an independent judiciary, strong rule of law, and a highly accountable public sector.

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Image: Governance structures ensure a level playing field.

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Taiwan. Score: 92.011

2011 Ranking: 6

2010 Ranking: 8

Thanks to greater efficiency, Taiwan has improved positions in the financial market development pillar, a category where it used to lag behind.

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Image: Taiwan has risen high.

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Canada. Score: 90.782

2011 Ranking: 7

2010 Ranking: 7

Canada benefits from highly efficient markets (with goods, labour, and financial markets ranked high), well-functioning and transparent institutions and excellent infrastructure.

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Image: Canada benefits from highly efficient markets.

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Qatar. Score: 90.219

2011 Ranking: 8

2010 Ranking: 15

Qatar has the world's largest per capita production and proven reserves of both oil and natural gas. In 2010, Qatar had the world's highest GDP per capita, while the economy grew by 19.40 per cent, the fastest in the world.

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Image: Qatar has the world's largest per capita production.

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Australia. Score: 89.259

2011 Ranking: 9

2010 Ranking: 5

The economy of Australia is a developed, modern market economy with a GDP of about $1.2 trillion.

In 2009, it was the 13th largest national economy by nominal GDP and the 17th largest measured by PPP adjusted GDP, representing about 1.7 per cent of the World economy.

Australia was also ranked the 19th largest importer and 19th largest exporter.

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Image: Australia is one of the largest exporters.

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Germany. Score: 87.824

2011 Ranking: 10

2010 Ranking: 16

Germany is ranked high for the quality of its infrastructure, with particularly good marks for its transport and telephony and electricity infrastructure.

Its goods market is efficient, with intense local competition and effective anti-trust policy.

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Image: Germany's infrastructure is one of the best in the world.

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Denmark. Score: 86.475

2011 Ranking: 11

2010 Ranking: 13

Denmark continues to distinguish itself as having one of the most efficient labour markets internationally, with more flexibility in setting wages, firing, and therefore hiring workers than in the other Nordics and in most European countries more generally.

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Image: Denmark has one of the best labour markets.

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Norway. Score: 86.418

2011 Ranking: 12

2010 Ranking: 9

The Nordic countries have always been well positioned in the ranking, with Norway at 12th.

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Image: Nordic countries have always been well positioned.

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The Netherlands. Score: 86.313

2011 Ranking: 13

2010 Ranking: 12

Dutch businesses are highly sophisticated and are among the most aggressive internationally in absorbing new technologies for productivity enhancements.

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Image: Dutch businesses are highly sophisticated.

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Finland. Score: 85.707

2011 Ranking: 14

2010 Ranking: 19

Finland's macroeconomic environments are healthy, with government budgets approximately in balance, narrow interest rate spreads, and excellent country credit ratings.

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Image: Finland's macroeconomic environments are healthy.

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Malaysia. Score: 84.380

2011 Ranking: 15

2010 Ranking: 10

Malaysia is a relatively open state-oriented and newly industrialised market economy.

The state plays a significant but declining role in guiding economic activity through macroeconomic plans.

Malaysia has had one of the best economic records in Asia.

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Image: Malaysia has had one of the best economic records in Asia.

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Israel. Score: 84.120

2011 Ranking: 16

2010 Ranking: 17

Israel is considered one of the most advanced countries in economic and industrial development.

In 2010, it joined the OECD. The country is ranked third in the region on the World Bank's Ease of Doing Business Index as well as in the World Economic Forum's Global Competitiveness Report.

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Image: Israel is considered one of the most advanced countries.

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Austria. Score: 81.629

2011 Ranking: 17

2010 Ranking: 14

Austria is the 12th richest country in the world in terms of GDP per capita, has a well-developed social market economy, and a high standard of living.

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Image: Austria is one of the richest countries.

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China. Score: 81.619

2011 Ranking: 18

2010 Ranking: 18

China's performance remains stable in most areas measured with the index compared with last year, with its main strengths its large and growing market size, macroeconomic stability, and relatively sophisticated and innovated businesses.

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Image: China's performance remains stable.

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The United Kingdom. Score: 81.100

2011 Ranking: 19

2010 Ranking: 22

The country continues to have sophisticated and innovative businesses that are highly adept at harnessing the latest technologies for productivity improvements and operating in a very large market.

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Image: The UK continues to have innovative businesses.

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New Zealand. Score: 80.278

2011 Ranking: 20

2010 Ranking: 20

New Zealand has a modern, prosperous and developed market economy with an estimated gross domestic product at purchasing power parity per capita of roughly $28,250.


Image: New Zealand has a modern economy.

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