India ranked to be 59th in the report released by World Economic Forum

India slipped down with 3 ranks to 59th position from its previous year ranking in the Global Competitiveness Report 2012-2013 released on 5 September 2012 by the World Economic Forum. The identified reason for this downfall is India’s disappointing performance in satisfying competitiveness for the basic factors.

Previously, India was far ahead to the nations like South Africa and Brazil has trailed down by 10 ranks and is 30 ranks behind the China. As per the details released by the forum, India still is strong in term of competitiveness on many other sections of comparison.

Switzerland managed to be on top of the list for consecutive four years followed by Singapore that ranked second and Finland was placed at third position. Among the members of BRICKS Nations, Russia was placed at 67th Position, South Africa got 52nd position and Brazil remained to be the 48th Nation.

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