India is Also Gaining on Competitiveness

India’s economy is booming. It’s also becoming much more competitive.

The country has zoomed higher in a new ranking of global competitiveness by the World Economic Forum, marking the second consecutive year of massive gains following a long malaise.

India was the most improved country in the 2016 ranking, moving up 16 places to 39th. It’s a major improvement from two years ago when it languished in 71st position.

WEF said that India has made progress across the board, especially in market efficiency, business sophistication and innovation. It has also made significant gains in human welfare: Infant mortality has fallen by half over the previous decade, and life expectancy has increased from 62 years to 68 years over the same period.

Recent improvements have been supported by breakneck economic growth. In the latest quarter, gross domestic product expanded by 7.1%, a quick enough rate for India to keep its title as the world’s fastest growing big economy.

via CNN

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza