World Economic Forum ranks India at 59th position in global competitiveness ranking

India does possess a number of strengths in the more advanced and complex drivers of competitiveness

World Economic Forum has released the Global Competitiveness Report 2012-2013. India related highlights of the report are as follows:

* India ranks 59th overall, down three places from last year.

* Since reaching its peak at 49th in 2009, India has lost 10 places.

* Once ahead of Brazil and South Africa, India now trails them by some 10 places and lags behind China by a margin of 30 positions.

* India continues to be penalized for its disappointing performance in the areas considered to be the basic factors underpinning competitiveness.

* Country's supply of transport, ICT, and energy infrastructure remains largely insufficient and ill-adapted to the needs of the economy (84th). However, that the situation has been slowly improving since 2006.

* Picture is even bleaker in the health and basic education pillar (101st), a prime cause of India's low productivity.

* Discontent within the business community remains high about the lack of reforms and the perceived inability of the government to push them through.

* Indeed, public trust in politicians (106th) has been weakening for the past three years.

* Macroeconomic environment (99th) continues to be characterized by large and repeated public deficits and the highest debt-to-GDP ratio among the BRICS.

* On a more positive note, India does possess a number of strengths in the more advanced and complex drivers of competitiveness.

* It can rely on a fairly well developed and sophisticated financial market (21st) that can channel financial resources to good use, and it boasts reasonably sophisticated (40th) and innovative (41th) businesses.

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