The nation is shifting to a higher pace; it can be seen by the economy growth and the rising standards on the charts of various associations. Recently, India was reported to be the second most competitive economy of BRICS nations. The latest edition of the Global Competitiveness Index by the World Economy Forum says that India will grow faster than China this year.
Evidently the economy of India has changed faster in this year 2015-16, that has resulted in giant leap of 16 ranks to the rank 39 among the 138 countries that are on the index.
“India’s competitiveness has improved across the board, in particular in goods market efficiency, business sophistication and innovation. Thanks to improved monetary and fiscal policies, as well as lower oil prices, the Indian economy is now established and now boasts the highest growth among the G20 countries.” As said in the Global Competitiveness Report 2016.
