India jumped 16 places to number 39 out of 138 countries rated in the World Economic Forum’s competitiveness ranking, due mainly to better infrastructure and strong economic growth. In the World Competitiveness Report 2016-2017 rankings are made on the assessment of 12 parameters: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.
India has made significant progress on infrastructure, one of the pillars where it ranked worst,” said the report.
Switzerland, Singapore and the U.S. were ranked first, second and third, respectively. China was ranked 28th, Sri Lanka was 71st, while Pakistan ranked 122nd.
The report also highlighted some of the remaining problems of doing business in India: confusing tax regulations, corruption and others, says the Wall Street Journal.