What is India’s rank in GCI?
As per the latest Global Competitiveness Report 2012-13, brought out by World Economic Forum, a Swiss non-profit foundation based in Geneva, India ranks 59th amongst 144 economies in the Global Competitiveness Index for 2012-13, as against 56th position out of 142 economies covered in 2011-12.
Whats does GCI measure?
The Global Competitiveness Index (GCI) measures the competitive performance of the economies around the world for doing business. It is a composite index that combines three component indices covering 12 different parameters (termed ‘pillars’). The details of the three components along with the weights assigned to them and the pillars are presented in table below:
What is India’s GCI(global competitive index) score and what does it reflect?
Computation of GCI(global competitive index) for the year 2012-13 is based on 113 indicators. As the indicators vary from year to year a comparison from previous years is not feasible. However, India’s performance with a GCI score of 4.32 (on a scale of 1-7) in the year 2012-13 is an improvement over last year score of 4.30. India has also improved its performance with respect to each individual component of the index.
Steps taken by Government to improve India’s competitiveness?
The Ministry of Corporate Affairs has constituted a Committee for Reforming the Regulatory Environment for Doing Business in India under the chairmanship of Shri M. Damodaran with the objective of making an in-depth study into the entire gamut of regulatory framework and come out with a detailed road-map for improving the business climate in the country that would help improve India’s competitiveness.
Evaluate yourself, ANSWER ME!!!
Q: What is India’s rank in GCI? What does India’s GCI score reflect and what are the various measures taken by the government to further improve India’s Competitiveness?