BUSINESS

India placed 41st in competitiveness

Special Correspondent

UNIDO report puts Singapore on top

NEW DELHI: India trails behind 40 other countries, including Thailand, Malta and Malaysia, in the field of industrial competitiveness, according to a report by the United Nations Industrial Development Organisation (UNIDO).

In its industrial development scoreboard, UNIDO has ranked India 41st out of 100 economies in terms of industrial competitiveness globally in a liberalising world. Topping the list is Singapore, followed by Ireland, Switzerland, Japan, Belgium, Sweden, Finland, Germany, Korea, Taiwan Province of China, France, the U.S., Hong Kong, Austria and Slovenia to make up the top 15.

India, however, has fared better than its immediate neighbours such as Pakistan which is placed in the 55th position, followed by Bangladesh at 67 and Sri Lanka in the 75th slot. Some of the other rankings among the 100 are: the U.K. (16), the Netherlands (17), Malaysia (18), Canada (22), Malta (23), China (26), Mexico (30), Brazil (39) and Russia (66).

Methodology

Explaining the basis of the rankings, UNIDO said: “The scoreboard is based on two sets of components, namely, industrial development indicators and competitive industrial performance index, the latter benchmarking competitive industrial activity of countries against the backdrop of liberalisation and globalisation.”

The UN organisation pointed out that the index sought to measure the competitive performance of countries in terms of their ability to produce goods competitively, “keeping abreast with changing technologies as well as the intensity of industrialisation, which is the share of manufacturing value added in GDP.”

It also took into account export quality, reflecting the role of manufacturing in a country’s export activity as well as the ability to make more advanced products, thereby moving into more dynamic areas of export growth, UNIDO said.

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