The Global Competitiveness Index 2017-18 has ranked Pakistan at the 115th position in the list of 137 nations in the world. In the list of South Asian economies, Pakistan continues to languish at the last position. Although Pakistan has shot up seven places in the recently released ranking of World Economic Forum’s Global Competitiveness Index, the country hasn’t been able to crawl in the list of South Asain countries. Pakistan was ranked 122nd in the 2016-17 Global Competitiveness report.
India has been placed at 40th spot in the World Economic Forum’s (WEF) Global Competitiveness Index (GCI) 2017-18.
According to a World Economic Forum report, India is ranked 40th among 137 economies on the Global Competitiveness Index.
Switzerland, United States, and Singapore continue to be the world’s top three competitive economies, while China (27th) and Russia (38th) outshine India among the BRICS group of large emerging markets.
On the other hand, India remained the most competitive country in South Asia. The World Economic Forum said that according to the current methodology, India’s score, this year, is the highest ever.
The 2017-18 Global Competitiveness Report compared a total of 137 countries on the basis of 12 categories called ‘pillars of competitiveness’.
The 12 parameters are Institutions, Infrastructure, Macroeconomic Environment, Health and Primary Education, Higher Education and Training, Goods Market and Efficiency, Labour Market Efficiency, Financial Market Development.
According to a report, corruption remains the most problematic factor for doing business for the third year in a row. The other parameters which the country ranked low on are primary health and education, and labor market efficiency. Of the parameters Pakistan improved in are institutions pillar, infrastructure, and macroeconomic stability.
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