According to WEF(World Economic Forum) report indian economy moves up a notch to 49th place on the global competitive scale, while Switzerland has toppled, the US as 2nd ranked nation.
The US has slipped to the 2nd place and is followed by Singapore, Sweden, and Denmark in the top five countries. Among the 133 countries featuring in the list, three nations in the BRIC grouping- India, Brazil, and china have moved up while Russia has witnessed a sharp drop.
country ranking
Switzerland 1
US 2
Singapore 3
Sweden 4
Denmark 5
Finland 6
Germany 7
Japan 8
Canada 9
Netherland 10
China 29
India 9
Brazil 56
Russia 63
According to WEF India also boasts bustling financial markets and a sound banking sector, supported by well- functioning institutions, due to this region India aquires this position.
According to the WEF, the syrvey this year polled more than 13000 business leaders in 133 economies
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