Global competitiveness index: Evaluation of the performance of Indian economy
Sachin D Shah
The Global Competitiveness Report is designed to help policy-makers, business leaders and other stakeholders shape their economic strategies in the era of the Fourth Industrial Revolution. Sustained economic growth remains a critical pathway out of poverty and a core driver of human development. Economic development is not a pre-determined destiny. Pro-active efforts are needed to start and sustain the development process. This paper evaluates India’s performance from 2014 to 2019 under Global Competitiveness Report released every year by World Economic Forum. The paper studies each indicator carefully to analyse which indicator is required to focus more for India’s sustained growth and overall macroeconomic development. The comparison of India’s Index with BRICS countries and major developed countries of the world is also shown. The major finding of this evaluation is that India must increase investment on skill development, ICT adoption, social capital and business dynamism.