India is improving significantly in Global Indexes

Indian economy is not only showing its growth resilience but improving significantly in the lead global indexes, said Mr. Gopal Jiwarajka, President, PHD Chamber of Commerce and Industry.

India has improved significantly higher than the BRICS economies in Global Competitiveness Index from 55th to 39th rank, Global Innovation Index from 81st to 66th rank, Logistics Performance Index from 54th to 35th rank,  Global gender gap from 108th to 87th rank during the last one year from 2015-16, said Mr. Jiwarajka. 

Comparative analysis of India’s global rankings with BRICS economies

 

 

 

Sr. No

 

Global Rankings

 

Previous ranking (2015) Latest ranking (2016)  

Percentage

Change

 (2015-16)

 

Rankings

1 Global                         

Competitiveness

Index

Brazil-75

Russia-45

India- 55

China- 28

South Africa- 49

Brazil-81

Russia-43

India- 39

China- 28

South Africa-47

-8

4

29

4

5

2

1

4

3

2 Global Innovation Index Brazil-70

Russia-48

India- 81

China- 29

South Africa- 60

Brazil-69

Russia-43

India-66

China- 25

South Africa-54

1

10

19

14

10

5

3

1

2

4

3 Ease of doing business* Brazil-116

Russia-51

India- 130

China- 84

South Africa- 73

Brazil-123

Russia-40

India- 130

China-78

South Africa-74

-6

22

7

-1

5

1

3

2

4

4 Global Gender Gap Brazil-85

Russia-75

India- 108

China- 91

South Africa- 17

Brazil-79

Russia-75

India- 87

China- 99

South Africa-15

7

19

-9

12

3

4

1

5

2

5 Logistics Performance Index Brazil- 65

Russia- 90

India- 54

China- 28

South Africa-

Brazil-55

Russia- 99

India- 35

China- 27

South Africa-

15

-10

35

4

2

4

1

3

    Source: PHD Research Bureau, *the ranking is taken from Ease of doing business report 2017 published by World Bank

The rate of improvement is encouraging at 35% in Logistics Performance Index followed by 29% in Global Competitiveness Index and at 19% each in Global Innovation Index and Global gender gap during the year 2015-2016, he said.

However, the country needs to focus more on its ease of doing business where the improvement has been stagnated at 130th rank during the last one year. The parameters where rankings have deteriorated and urgent improvement is needed are construction permits, getting credit, protecting investors, paying taxes and trading across borders. The other parameters where ranking has been stagnant and needs further improvement are enforcing contracts, starting business, registering property and resolving insolvency, he added

Also, we need to improve our ranking in World Happiness Index which is surprisingly very low at 122 out of 155 countries. Improvement in the work environment supported by state of the art social infrastructure including better health facilities, employment oriented education and skill development would go a long way to improve our happiness index.  

Bottlenecks in India’s Ease of Doing Business rankings

                                                                             

Sr. No. Parameters 2015 2016 2017
1 Enforcing contracts 186 178 172
2 Starting business 158 155 155
3 Registering property 121 138 138
4 Resolving insolvency 137 136 136
5 Construction permits 184 183 185
6 Getting credit 36 42 44
7 Protecting investors 7 8 13
8 Paying taxes 156 157 172
9 Trading across borders 126 133 143
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