India's ranking on a global competitiveness index fell 11 notches to 71 in 2014-15 against 60 a year earlier, posing yet another problem for the Narendra Modi government, which is striving to revive the investment cycle.
144 countries were ranked in the latest report released by the World Economic Forum (WEF) on Wednesday.
In the Global Competitiveness Report, 2014-15, WEF said, "On a downward trend since 2007 and dropping by 11 more places this year, India ranks 71st. The new government faces the challenge of addressing the country's competitiveness weaknesses and reviving the economy, which is currently growing at half the rate of 2010."
India's ranking in global competitiveness index used to be 48th in 2007-08 (three quarters of which fell in calendar year 2007). This slipped to 50 points a year later and has deteriorated.
In terms of official calculation of gross domestic product, India's economic growth declined to 4.7% in 2013-14 against 8.9% in 2010-
src:sify.com