India Ranks 58th Most Competitive Economy In WEF Index 2018, Rising By 5 Places

| October 17 , 2018 , 15:04 IST

After getting the title of the fastest growing economy in the world, India has been ranked as the 58th most competitive economy in the World Economic Forum Index 2018.

According to the World Economic Forum Index 2018, with a score of 62.0 points, India’s rank rose by five places from 2017.

Meanwhile, China has been ranked at the 28th position in the list.

The list of 140 economies is topped by the US with 85.6 points followed by Singapore and Germany on the second and third spot respectively.

Also Read: India Is The Fastest Growing Economy In Asia With 7.3% Growth In 2018: ADB Report 

The other top 10 countries on the list are Switzerland attained the fourth position with 82.6 points, Japan attained the fifth position with 82.5 points, Netherland attained the sixth position with 82.4 points, Hong Kong attained the seventh position with 82.3 points, the United Kingdom attained the eighth position with 82.0 points, Sweden Attained the ninth spot with 81.7 points and Denmark attained the tenth spot with 80.6 points.

In a press release, WEF said, "One of the key findings from the report is that all economies could do better in certain areas. For example, while Singapore might be the most ‘future-ready’ economy, Finland outdoes it for having a digitally skilled workforce."

"And while low and middle-income economies can leverage technology to jumpstart growth, the report emphasises the importance of ‘old’ developmental pillars, such as governance, infrastructure and skills," it added.