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India moves down 10 places to 68th on global competitiveness index

India has moved down 10 places to 68th rank on an annual global competitiveness index by Geneva-based World Economic Forum (WEF), due to improvements witnessed by several other economies, while Singapore has replaced the United States as the world's most competitive economy. As per media reports, India is among the worst-performing BRICS nations along with Brazil which is on 71st rank. The WEF stated that India ranks high in terms of macroeconomic stability and market size, while its financial sector is relatively deep and stable despite the high delinquency rate, which contributes to weakening the soundness of its banking system. Src: https://bit.ly/35iVZ0m

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