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Global Competitiveness Index 2018 || GCI ||

Global Competitiveness Index
What is Global Competitiveness Index
• Yearly report published by the World Economic Forum.
• Based on the GCI, developed by Xavier Sala-i-Martin and Elsa V. Artadi.
• Integrates the macroeconomic and the micro/business aspects of competitiveness into a single index.
• Assesses the ability of countries to provide high levels of prosperity to their citizens.
• This in turn depends on how productively a country uses available resources.
• Measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity."
Performance of India:
• India ranked 58th most competitive economy with a score of 62.0.
• India jumped five spots from 2017, the largest gain among G20 economies.
• India ranked highest among South Asian countries.
• Sri Lanka was ranked 86th, Bangladesh 103rd, Pakistan 107th and Nepal 109th.
• India leads the region in all other areas of competitiveness except for health, education and skills.
• India’s greatest competitive advantages include its market size and innovation.
Global performance:
• On the list of 140 economies, the United States topped the list with a score of 85.6,
• Singapore and Germany at the second and the third positions.
• 17 of the 34 sub-Saharan African economies are among the bottom 20.
• BRICS economies, China topped the list at 28th place with a score of 72.6,
• Followed by Russia, India, South Africa and Brazil respectively.
How it is calculated?
• The Global Competitiveness Index (GCI) is prepared on the basis of country-level data
• Covering 12 categories or pillars of competitiveness.
• Institutions,
• infrastructure,
• macroeconomic environment,
• health and primary education,
• higher education and training,
• goods market efficiency,
• labour market efficiency,
• financial market development,
• technological readiness,
• market size,
• business sophistication
• innovation are the 12 pillars.

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