India Ranks 40th in 2017 Global Competitiveness Index, 3rdin Nuclear Power Installations (Download PDF)

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India got 40th rank among 137 countries in World Economic Forum’s (WEF) Global Competitiveness Index (GCI) 2017 - 18 slipping one position from 39th spot in 2016. WEF’s GCI assesses competitiveness based on productivity and prosperity.

Image of Global Competitiveness Index

Image of Global Competitiveness Index

Image of Global Competitiveness Index

Global Competitiveness Index

  • Scores calculated in 12 categories called ‘pillars of competitiveness’- cover both business and social indicators.

  • Pillars include aspects like institutions, infrastructure, health and primary education, labour market efficiency, financial market development, technological readiness, and market size.

Key Highlights of 2017 GCI

  • Top 5 countries include Switzerland (1st), United States (2nd), Singapore (3rd), Netherlands (4th) and Germany (5th).
  • BRICS countries got ranks: China (27th), Russia (38th), India (40th), South Africa (61st) and Brazil (80th).

Indian Competitiveness

  • India remains most competitive in South Asia.

  • Improved across most pillars of competitiveness, particularly infrastructure (66th, up by 2), higher education and training (75th, up by 6), and technological readiness (107t, up by 3) reflecting recent public investments.

  • Report acknowledged efforts in information and communications technology (ICT).

Global Challenges in Competitiveness

  • Since 2008 global financial crisis, sustained economic recovery is at risk due to policy and leadership failures

  • Policymakers need to put in reforms necessary for increasing competitiveness.

India Ranked 3rd in Nuclear Power Installations

  • According to World Nuclear Industry Status Report 2017, India with six installed nuclear reactors ranks third in world, while China is leading at 20 installed nuclear reactors. Key findings include:
  • Decline in Nuclear Reactors
  • The number of reactor units under construction declined globally for fourth year, from 68 reactors at end of 2013 to 53 by mid-2017.
  • Delay in Projects
  • 37 reactor constructions in the world are behind schedule. In India, five out of six reactors under construction are behind schedule.

Nuclear Power Vs Renewable Energy

  • Since 1997, worldwide, renewable energy is come out to be the winner, producing four times as many new kilowatt-hours of electricity than nuclear power.

  • Globally nuclear power generation has increased by 1.4 % in 2016 due to a 23 % increase in China, but stagnated at 10.5%.

  • Wind power output grew by 16 % and solar power by 30%- Wind power increasing 3.8 times, and solar power by 2.2 times more than nuclear power.

  • Renewables represented 62 % of global power generating capacity additions.

Shutting Nuclear Plants and Financial Crisis in Nuclear Industry

  • Russia and US have shut down reactors in 2016.

  • Sweden and South Korea also have closed their oldest units in first half of 2017.

  • Toshiba has filed for bankruptcy of its US subsidiary Westinghouse, largest nuclear power builder in history.

  • France’s AREVA also has accumulated $12.3 billion in losses over past six years with French government providing $5.3 billion bailout.

  • Historically, the top 10 most powerful passports in the world were mostly European, with Germany having the lead for the past two years. Since early 2017, the number one position was shared with Singapore, which was steadily going up, it said

  • SINGAPORE: Singapore has the world’s “most powerful” passport, according to a global ranking topped for the first time by an Asian country with India figuring at 75th position, three notches better than its previous ranking.

Global Passport Power Rank 2017

  • According to the ‘Global Passport Power Rank 2017’ by global financial advisory firm Arton Capital, Singapore has most powerful passport, Germany is ranked second, followed by Sweden and South Korea in third place.

  • Paraguay removed visa requirements for Singaporeans, propelling Singapore’s passport to the top.

  • Historically, the top 10 powerful passports were mostly European, for the first time an Asian country has the most powerful passport,

Basis of Passport Power Rank

  • Ranks national passports by the cross-border access, assigning a “visa-free score” according to the number of countries a passport holder can visit visa-free or with visa on arrival. Ranking reflects inclusive diplomatic relations and effective foreign policy

- Published/Last Modified on: November 13, 2017

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