CNN Money reports that after five years of decline, India has jumped 16 places to 55th in the World Economic Forum‘s ranking of the most competitive economies. The World Economic Forum releases its Global Competitiveness Index each year, and ranks countries based on a range of factors including technological readiness, innovation, labor market efficiency, higher education and financial market development.
“This dramatic reversal is largely attributable to the momentum initiated by the election of Narendra Modi, whose pro-business, pro-growth, and anti-corruption stance has improved the business community’s sentiment toward the government,” the group said in its report.
