India has become a less competitive economy in the past one year, with the country slipping two ranks in the latest world''s competitiveness index. The United States, on the other hand, has retained its top position despite signs of an economic slowdown there. According to the annual World Competitiveness Yearbook 2008, released on May 15 by Switzerland-based IMD Business School, India has slipped to 29th position, from 27th in the previous year. While China has also seen its ranking dropping by two places to 17th, it is ranked higher than India and has still managed to keep its position among the top 20 competitive economies in the world.
The Overall Competitiveness Scoreboard is calculated by combining four factors of competitiveness: economic performance, government efficiency, business efficiency and infrastructure, IMD Business School said on its website. Some nations can be rich in assets - land, people, and natural resources - but are not necessarily competitive. This may be the case for Brazil, India and Russia, said Stephane Garelli, Professor at IMD and Director of the World Competitiveness Project.
The Overall Competitiveness Scoreboard is calculated by combining four factors of competitiveness: economic performance, government efficiency, business efficiency and infrastructure, IMD Business School said on its website. Some nations can be rich in assets - land, people, and natural resources - but are not necessarily competitive. This may be the case for Brazil, India and Russia, said Stephane Garelli, Professor at IMD and Director of the World Competitiveness Project.
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