India climbs 25 places in global competitiveness ranking
India has climbed 25 places in a global competitiveness ranking, an improvement attributed to reforms that reduced market distortions. The gain follows a series of domestic economic reforms, including the implementation of the GST and the Insolvency and Bankruptcy Code (IBC), along with improvements in the business environment and trade-facilitation measures.
Nabka Insight
A sharp jump in a global competitiveness ranking driven by reforms.
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- India rose 25 places in a global competitiveness ranking.
- Improvement attributed to reforms reducing market distortions.
- Reforms cited: GST and the Insolvency and Bankruptcy Code (IBC).
- Also credited: business-environment and trade-facilitation measures.
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