ANALYSE THE POSITION OF INDIA

IN GLOBAL COMPETITIVENESS BY
REFERING THE GLOBAL
COMPETITIVENSS INDEX 2019-2020
CURRENT POSITION
• The IMD World Competitiveness Ranking, is produced by the business school based in
Switzerland and Singapore every year since 1989.

• In the 63-nation list, INDIA was ranked 43rd position in 2019.

• And in 2020 the country was able to retain its position as the 43rd on the list.

• some traditional weaknesses like poor infrastructure and insufficient education investment
keeping India ranking low
CHANGES DURING THE CONSECUTIVE YEARS
• While its overall position has remained unchanged in the 2020 list, it has recorded improvements
in areas like long-term employment growth, current account balance, high-tech exports, foreign
currency reserves, public expenditure on education, political stability and overall productivity
• However, it has moved down in areas like exchange rate stability, real GDP growth, competition
legislation and taxes.
• The value of merchandise exports from India totaled $ 275 billion in 2020. Overall commodity
exports from India decreased by 14.7% compared to 2019.
 CURRENT THREATS
• the Indian economy contracted by an estimated 10.3% in 2020, due to the COVID-19 pandemic.
• Private consumption significantly declined as unemployment increased following the implementation of the
nationwide lockdown.
• India has the world’s largest youth population,
nevertheless, over 30% of India's youth are
not in employment, education or training.
• Rising inflation has complicated the economic
situation further. Retail inflation rose to
6.93 per cent, way above the RBI’s
medium-term target of 4 per cent.
ACTION TO BE TAKEN
• Ensure peoples livelihood and spending power by direct cash assistance.

• Make adequate capital available for business through government backed credit programs.

• Fix financial sector through institutional autonomy and process.

CONCLUSION
• As the COVID-19 struck us by a surprise, it also brought a new perspective on the economy of
India. It gave us a chance to review the that we need to look into. The Indian economy is
predicted to revive by late 2021, there has been improvement in the problems regarding
unemployment. There is also significant development in the technological and agricultural sector
. What this show us is the fact that as a country India possess the potential to become a
developed country.