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Global Competitiveness Index: India slips 10 places to 68th


New Delhi,
Oct.09 (HS): India has slipped 10 places in the Global Competitiveness Index.
India, ranked 58th last year, reached 68th position this time. India has the
worst condition among the BRICS countries. Brazil is better than us. Singapore
has come in first place this time leaving America behind.

This is not
a good sign for the Modi government, which is trying to handle the economy.
Significantly, before the latest index of the World Economic Forum, India was
ranked 58 in the Global Competitive Index, but this year India was one of the
weakest performing economies among the BRICS countries along with Brazil.

However, in
the matter of corporate governance, India has been ranked 15th by the World
Economic Forum. India has been ranked second in shareholder governance and
third in market size. India has got the third number in terms of renewable
energy as well. According to the report, India has also been placed above many
emerging economies in terms of innovation.

Brazil is
ranked at number 71 in this competitive index. While releasing the index, the
World Economic Forum said that India is still at a high level in terms of
economic stability and its economic sector is very deep. However, he also drew
attention to the weakness in the banking sector, which is struggling with loans.