Global Competitiveness of the Indian Economy

Abstract

This paper aims at appreciating the need for and relevance of understanding global competitiveness of the Indian economy and futuristic trends. This attempt would primarily focus on issues related to changing business paradigms under globalization and resulting competitiveness of India among the world’s most competitive economies. In view of the changing nature of global business environment and competition, what are the most immediate impacts on Indian economy which determine its competitiveness among the economies of the rest of the world? An attempt has been made to understand the country’s rank among the world’s most competitive nations. This paper attempts to find out the rational answers of these queries related to the grave concern of the people and broaden the perspective regarding the concept of economy competitiveness, competitiveness ranking and other concerning areas by creating awareness about necessity to manage transition at the right time to more effectively cope with, and manage, the growth process. Competitiveness rankings are viewed as a barometer of the business climate in different countries across the world and mirror the assessments of leading businessmen on a range of political, social, and economic parameters. It is intended to equip the concerned stakeholders to focus on creating a good understanding of the management issues associated with trends in economic perceptions about the country at the world level. Attempts are focused on providing the most updated and recent data, rankings, and analysis of industrialized and emerging economies, and the latest thinking and research from prominent academics and international institution leaders on global competitiveness.