GENEVA: India has slipped to 51st from the 49th spot in the World Economic Forum's annual Global Competitiveness Report (GCR) 2010-2011 among 139 countries rated for institutions, policies, and factors that determine the level of productivity.
The top ten ranked countries have retained their spots since 2009. While Switzerland is first for the second consecutive year, Sweden is second andSingapore is at the third spot. The US has slipped to fourth and China had jumped to 27 from 29.
"Switzerland, a model country, has the most effective and transparent public institutions in the world with a level playing field, an independent judiciary, strong rule of law, and highly accountable public sector," said the report released on Thursday.
"India has failed to improve significantly on any of the basic drivers of its competitiveness," said the report. But its large market size, good results in more complex areas including financial markets, business sophistication and innovation make it competitive.
India shows up poorly when it comes to institutions. It ranks 71 in diversion of public funds, 88 in the public's trust of politicians, 83 in irregular payments and bribes, 72 in favouritism in decisions of government officials, 57 in wastefulness of government spending, 95 in burden of government regulation, 127 in business costs of terrorism, 67 in business costs of crime and violence, 73 in organised crime, 68 in reliability of public services, 70 in ethical behaviour of firms and 76 in efficacy of corporate boards.
However, India ranks 42 in transparency of government policy making, 45 in its strength of auditing and reporting standards, 33 in strength of investor protection, 41 in judicial independence, 47 in legal framework in dispute settlement and 37 in legal framework in challenging regulations.
India's macroeconomic environment continues to be characterised by persistent budget deficits (80), high public debt (115) and high inflation (123 out of 139). However, it ranks ninth in national savings rate.
India is 104th in health and primary education, with high rates of communicable diseases and high infant mortality (111).
Life expectancy in India (rank 109) is 10 years less than in Brazil and China. The quality of primary education remains fairly poor (rank 98), despite becoming universal.
Higher education also is a weak point, with low enrolment rates at secondary (rank 108) and tertiary (rank 101) levels. It is 39 in the quality of its educational system, and 23 in the quality of its management schools.
The top ten ranked countries have retained their spots since 2009. While Switzerland is first for the second consecutive year, Sweden is second andSingapore is at the third spot. The US has slipped to fourth and China had jumped to 27 from 29.
"Switzerland, a model country, has the most effective and transparent public institutions in the world with a level playing field, an independent judiciary, strong rule of law, and highly accountable public sector," said the report released on Thursday.
"India has failed to improve significantly on any of the basic drivers of its competitiveness," said the report. But its large market size, good results in more complex areas including financial markets, business sophistication and innovation make it competitive.
India shows up poorly when it comes to institutions. It ranks 71 in diversion of public funds, 88 in the public's trust of politicians, 83 in irregular payments and bribes, 72 in favouritism in decisions of government officials, 57 in wastefulness of government spending, 95 in burden of government regulation, 127 in business costs of terrorism, 67 in business costs of crime and violence, 73 in organised crime, 68 in reliability of public services, 70 in ethical behaviour of firms and 76 in efficacy of corporate boards.
However, India ranks 42 in transparency of government policy making, 45 in its strength of auditing and reporting standards, 33 in strength of investor protection, 41 in judicial independence, 47 in legal framework in dispute settlement and 37 in legal framework in challenging regulations.
India's macroeconomic environment continues to be characterised by persistent budget deficits (80), high public debt (115) and high inflation (123 out of 139). However, it ranks ninth in national savings rate.
India is 104th in health and primary education, with high rates of communicable diseases and high infant mortality (111).
Life expectancy in India (rank 109) is 10 years less than in Brazil and China. The quality of primary education remains fairly poor (rank 98), despite becoming universal.
Higher education also is a weak point, with low enrolment rates at secondary (rank 108) and tertiary (rank 101) levels. It is 39 in the quality of its educational system, and 23 in the quality of its management schools.
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