As a nation, is India more globally competitive than China?
According to the Global Competitiveness Report 2003/4, released recently by the World Economic Forum and Harvard University, conducted jointly by noted economists from index ranking, India’s position has remained stable for the past 3 years at 37 for Business competitiveness while China’s ranking slipped from 38th to 46th. India’s overall growth competitiveness according to the GCR is ranked 56th as compared to China’s 44th place The GCI (Global Competitiveness index) is being used to gauge the growth potential of a country. The index aims to identify the factors responsible for raising productivity and current economic performance as measured by the rise in the level of gross domestic product per person. The report describes ‘competitiveness’ as “a set of institutions and economic policies supportive of high rates of growth in the medium term.” The GCI had been built on the microeconomic competitiveness index, which primarily reflects upon two things- the ability to comprehend technol
