World Competitiveness Index

• World Competitiveness Index was recently released by International Institute for Management Development (IMD).
  • The institute is co-headquartered in Switzerland and Singapore.

ABOUT THE WORLD COMPETITIVENESS INDEX

• The IMD World Competitiveness Yearbook (WCY) was first published in 1989.
• It is a comprehensive annual report and worldwide reference point on the competitiveness of countries.
• It analyses and ranks countries according to how they manage their competencies to achieve long-term value creation.
• It is based on 336 competitiveness criteria and four factors, namely Economic performance, Government efficiency, Business efficiency, and

MAJOR HIGHLIGHTS

• Top three nations– Denmark, Ireland, and Switzerland
• India was ranked 40^th among the countries.
• Specifically, the top three measures that helped India in its score are exchange rate stability, compensation levels, and improvements in pollution control.