India rises in global competitive index
As per the World Economic Forum's new report, India ranks
39th in the global competitiveness index for 2016-17. India moved 16 points up
with improvement in several fronts like efficiency in goods market ,
business sophistication, and innovation. Also, monetary and fiscal policies,
and lower oil prices helped India's economic stability. Switzerland, Singapore
and the US continue to top the list.
Def: Competitiveness is defined as the set of institutions, policies and factors that
determine a country’s level of productivity. The level of productivity, in turn,
sets the level of prosperity that can be reached by an economy
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