What is India's rank in WCC's Global Competitiveness Index - Current Affairs

India's rank in the World Competitiveness Index (WCI) 2023 is 40. This is a slight improvement from its rank of 43 in 2021-22, but it is still below its peak rank of 38 in 2017-18.

The WCI is an annual ranking of countries' competitiveness, based on a survey of business executives and other experts. The index measures factors such as infrastructure, institutions, education, and innovation.

India's strengths in the WCI include its large and growing market, its skilled workforce, and its strong innovation potential. However, the country also faces challenges in areas such as infrastructure, corruption, and the ease of doing business.

The government of India has taken steps to address these challenges, such as investing in infrastructure and simplifying the regulatory environment. However, more needs to be done to improve India's competitiveness.

Here are the top 10 countries in the WCI 2023:

1. Denmark
2. Ireland
3. Switzerland
4. Netherlands
5. Taiwan
6. Hong Kong
7. Sweden
8. United States
9. United Arab Emirates
10. Singapore

The index is based on a number of factors, including:

• Institutions: This includes factors such as the rule of law, government effectiveness, and regulatory quality.
• Infrastructure: This includes factors such as the quality of roads, ports, and airports.
• Markets: This includes factors such as the efficiency of the financial system and the openness of the economy.
• Business environment: This includes factors such as the ease of doing business and the protection of property rights.
• Skills and labor: This includes factors such as the quality of education and the availability of skilled workers.
• Innovation: This includes factors such as the level of research and development spending and the number of patents filed.

India has made some progress in recent years in terms of competitiveness. However, there is still a lot of work to be done. If India wants to become a more competitive economy, it will need to continue to improve its institutions, infrastructure, and markets. It will also need to invest in education and skills development, and promote innovation.