GENEVA: India has slipped to 59th position in the Global Competitiveness Index 2012-2013 of the World Economic Forum (WEF) due to the poor performance in the basic factors.
India was once ahead of Brazil and South Africa, but now it trails after them by about 10 places and lags behind China by 30 positions.
Switzerland topped the global list for the fourth consecutive year, followed by Singapore in second position and Finland in third position.
Netherlands ranked in the 5th place, followed by Germany (6th), the United States (7th) and United Kingdom (8th), Hong Kong (9th) and Japan (10th).
According to the report, “India continues to be penalised for its disappointing performance in the areas considered to be the basic factors underpinning competitiveness.”