Skip to main content

India ranks 131st in procedures, 110th in time taken to start business among 137 countries: WEF report

India's ranking among "competing" nations
By Rajiv Shah
Even as pointing out that India has slipped by one rank in the world competitive ranking from 39th last year to 40th this year, after massive upward swing over two previous years, the high-pofile Geneva-based World Economic Forum (WEF) in its new report has found India's ranking extremely poor in providing business environment to investors.
Thus, the "Global Competitiveness Report 2017-18", ranks India 98th in intensity of local competition among 137 countries it analyses, 124th in total tax rate, 131st in number of procedures to start business, 110th in time taken to start business, 124th in trade tariffs, 118th in imports as percentage of gross domestic product (GDP), 104th in flexibility of wage determination, 129th in female participation in labour force, 111th in exports as percentage of GDP, and so on.
Taking into account India's poor social sector, suggesting, it comes in the way in creating robust competitive environment, the report ranks India 91st in health, even as revealing that the country ranks 109th in “business impact of tuberculosis”, and 113rd in “business impact of HIV/AIDS."
India's ranking over the years, in selected sectors
One of the world’s most high-profile elite clubs that seeks to “improve” the state of the world by “engaging” business, political, academic, and other leaders across the globe, WEF, however, does not give much significance to one point deceleration in India’s rating, which was 39th in 2016-17, saying it suggests India has “stabilized” after “its big leap forward of the previous two years”.
Even then, the report notices several “problem areas”, including corruption, access to financing, tax rates, inadequate supply of infrastructure, poor work ethic in national labour force, inadequately educated workforce, and so on. It underlines, “The private sector still considers corruption to be the most problematic factor for doing business in India.”
Among the several areas in which India has improved it's score, says the report, include infrastructure (66th, up two), higher education and training (75th, up six), and technological readiness (107th, up three)."
India's problematic areas on a scale of 12
Prepared by Prof Klaus Schwab, WEF editor, and Prof Xavier Sala-i-Martín of the Columbia University, who is chief advisor, the report states, while India, along with China and Indonesia, is “becoming a centre for innovation, "catching up with advanced economies”, there is still a need for “increasing the readiness of their people and firms to adopt new technology, which is necessary to widely spread innovation’s potential economic and societal benefits.”
WEF says, “Asian economies were less exposed to the global financial crisis, but they are facing new problems of their own”, underlining, “Amid a private-sector credit boom in India, the proportion of loans classed as non-performing went from 4 percent to 9 percent in two years.”
Among India's growing centres of innovations, the report says, "Three Indian locations appear in the top 100: Bengaluru at 43rd (with patent activity focused on computer technology), Mumbai at 95th, and Pune at 96th (both registering among the most patents in organic fine chemistry)." However, they are far behind Shenzen–Hong Kong, ranking 2nd place, and Beijing 7th, it adds.
The report further says that the level of technological readiness of individuals and firms in India, as in China and Indonesia, remains "relatively low", suggesting that the benefits of these innovative activities are "not widely shared" and "societal gains from innovation breakthroughs do not happen automatically: they need complementary efforts to ensure that more people and firms have the means to access and use new technologies."

Comments

TRENDING

Missed call drive for VVPAT verification follows online plea to "pressure" poll panel

By Our Representative
Several political activists have begun a new campaign, asking concerned citizens to give a missed call on 9667655855 to “support the demand that 2019 Loksabha elections must be declared only after verification of 50% electronic voting machines (EVMs) with Voter Verifiable Paper Audit Trail (VVPAT) receipts.” The effort, supported by civil society networks across India, is meant to "further pressure" India's election machinery to ensure that the poll outcome becomes more transparent.

Now, top Gujarat "litterateur" close to Modi says: Godse was patriot, so was Gandhi

By Rajiv Shah
A little over a week after Prime Minister Narendra Modi criticized BJP candidate from Bhopal Pragya Thakur for calling Nathuram Godse a patriot saying he would never forgive her for the remark, a top Sangh Parivar ideologue, known to close to Modi in Gujarat, has supported her, saying her statement should be seen “within a context.” Thakur won from Bhopal by more than 3.5 lakh votes defeating her nearest rival, veteran Congressman and ex-Madhya Pradesh chief minister Digvijay Singh.

Opposition refuses to legally challenge EVMs amidst plans of "back to ballot" protest

Counterview Desk
Even as opposition to the use of electronic voting machines (EVMs) allegedly to rig polls is growing, a group of prominent citizens who have come together to form the EVM Virodhi Rashtriya Jan Andolan has controversially called for a national protest against EVMs on May 30, demanding future elections should be held only on ballot paper.

Savarkar in Ahmedabad "declared support" to two-nation theory in 1937, followed by Jinnah three years later

By Our Representative
One of the top freedom fighters whom BJP and Prime Minister Narendra Modi revere the most, Vinayak Damodar Savarkar, was also a great supporter of the two nation theory for India, one for Hindus another for Muslims, claims a new expose on the man who is also known to be the original proponent of the concept of Hindutva.

When a Pak scribe said Modi has 'proved' Jinnah’s two nation theory right...

By Zafar Agha*
It was around nine in the morning on May 24, 2019, a day after Prime Minister Narendra Modi stormed the Lok Sabha with 300-plus MPs. It was a call from a journalist friend, Muzamal Suhrawardy, from Lahore, Pakistan. I ignored the call. We liberals had a depressing day the previous evening as the opposition to Modi and BJP collapsed. The results belied reports from the ground and even assessments made by colleagues.

It's now official: Akshay Kumar has not been conferred honorary Canadian citizenship

By Our Representative
It is now official. Super-star Akshay Kumar has not been conferred any honorary citizenship by Canadian authorities, as claimed by him ahead of the 2019 elections. In reply to a query by Roshan Shah, who is a Canadian citizen living in Waterloo, Ontario, and belongs to Ahmedabad, the country’s authorities dealing with issues related with immigration, refugees and citizenship in Canada have said that only six persons have so far been granted honorary citizenship.

Govt of India overestimated GDP by 2.5%, must restore reputational damage: Ex-CEA

By Rajiv Shah
Top economist Arvind Subramanian has said that changes brought about by the Government of India in data sources and methodology for estimating the country’s gross domestic product (GDP) since 2011-12 “has led to a significant overestimation of growth”. While official estimates place annual average GDP growth between 2011-12 and 2016-17 at about 7 percent, the actual growth may have been 4½ percent, ranging from 3 ½ to 5 ½ percent during the period, he adds.

Common thread of Modi, political Hinduism, nationalism? 'Contest' of ideas isn't over

By Salman Khurshid*
Losing the 2019 election and that too in a somewhat extreme manner has confronted us with unexpected challenges: Our leadership has naturally taken it very hard and to heart but with suggested options that we cannot imagine or contemplate. Hopefully the emotions will settle soon and give us the direction to pick up the pieces and march again.

If EC's credibility is under question, shouldn't one "assume" EVMs might be tampered?

Counterview Desk
Gauhar Raza, scientist, documentary film maker and poet; senior human rights activist Shabnam Hashmi of the Act Now for Harmony and Democracy (ANHAD); military veteran Major Priyadarshi Chowdhury (retd); and Sucheta De and Sandeep Saurav of the All India Students' Association (AISA), have asked “individuals, organisations and people's movements” to send their endorsement to an appeal they have prepared on Electronic Voting Machine (EVM).

Will minorities in India be 2nd class citizens? Wake up call: Be a 'communicating' Church

By Fr Cedric Prakash sj*
India today is at a defining moment of her history. There is so much that has taken place in the past five years (and particularly in the last ten days)- that several citizens of the country are genuinely concerned about the future of the country! Will democracy survive? Will key elements of the Constitution be changed?