WEF Ranks India Below Pakistan and China in Inclusive Development Index- Slams GDP (Download PDF)


Download PDF of This Page (Size: 199.53 K)

India was ranked at the 62nd place among emerging economies on an Inclusive Development Index (IDI-2018) released by World Economic Forum (WEF). WEF urged the leaders to urgently move to a new model of ‘inclusive growth and development’, saying reliance on GDP as a measure of economic achievement is fueling short-termism and inequality.

Image of National Key Performance Indicators

Image of National Key Performance Indicators

Image of National Key Performance Indicators

  • India’s rank was much below China (26th position) and Pakistan (47th position).

  • Of the three pillars that make up the index, India ranks:

    • 72nd for inclusion

    • 66th for growth and development

    • 44th for inter-generational equity

  • Norway remained world’s most inclusive advanced economy, while Lithuania topped the list of emerging economies.

What is IDI?

  • Inclusive Development Index (IDI) measures progress of 103 economies.

  • The IDI is measured on three individual pillars – growth and development; inclusion; and inter-generational equity

How Does IDI Work?

  • It is divided in to 2 parts. The first part covers 29 advanced economies and the second part contains 74 emerging countries.

  • The index takes into account the “living standards, environmental sustainability and protection of future generations from further indebtedness”.

  • The index also has classified countries into five sub-categories in terms of five-year trend of their overall Inclusive Development Growth score:

    • Receding

    • Slowly receding

    • Stable

    • Slowly advancing

    • Advancing

Key Facts

  • Despite its low overall score, India is among the ten emerging economies with ‘advancing’ trend.

  • Only two advanced economies have shown ‘advancing’ trend.

  • Among advanced economies, Norway is followed by Ireland, Luxembourg, Switzerland, and Denmark in the top five.

  • Small European economies dominate top of index, with Australia (9) the only non-European economy in the top 10.

  • Of the G7 economies, Germany (12) ranks the highest. It is followed by Canada (17), France (18), the UK (21), the US (23), Japan (24) and Italy (27).

  • Top-five most inclusive emerging economies: Lithuania, Hungary, Azerbaijan, Latvia, and Poland. What is WEF?

  • The World Economic Forum (WEF) was established as a not-for-profit foundation in Geneva, Switzerland, in 1971.

  • The organization aims to improve the world through public-private cooperation by engaging the foremost political, business and other leaders of society to shape global agendas.

  • Not tied to any special interests, the forum strives to demonstrate entrepreneurship in the global public interest while upholding the highest standards of governance.

- Published/Last Modified on: February 26, 2018

Economy, Country/State Ranks/Indices

Monthy-updated, fully-solved, large current affairs-2019 question bank(more than 2000 problems): Quickly cover most-important current-affairs questions with pointwise explanations especially designed for IAS, NTA-NET, Bank-PO and other competetive exams.