Team Blitz India
SINGAPORE: India finished 40th in the latest world competitiveness ranking published by the International Institute for Management Development (IMD). India is in a better position than it was in 2019-2021 when it was placed 43rd for three years in a row. Based on the IMD report, the country improved in government efficiency. The top three measures that helped India in its score are exchange rate stability, compensation levels and improvements in pollution control.
The report added that the challenges facing India in 2023 are maintaining its high GDP growth, coping with financial market volatility, controlling inflation and fiscal deficit, accelerating digital transformation, and mobilising resources for infrastructure development.
Meanwhile, Singapore dropped a spot to be ranked fourth in the latest world competitiveness ranking. The IMD’s World Competitiveness Centre (WCC) revealed that the city-state was placed fourth out of 64 economies in its annual report after it had climbed to third a year earlier..
