India has room to improve, says forum
The Geneva-based World Economic Forum (WEF) has ranked India at 30th position on a global manufacturing index with Russia is ranked 35th, Brazil 41st and South Africa at 45th place, the three peers in the BRICS club.
China, from the same group, was rated 5th while Japan topped WEF’s first ‘Readiness for the future of production report’ which had South Korea, Germany, Switzerland, Czech Republic, the US, Sweden, Austria and Ireland in the top 10.
The WEF noted the drive of Make in India and suggested continueing training for the young work force.
India’s manufacturing sector has grown by over 7% per year on average in the past three decades and accounts for 16-20% of the GDP.
In 2016, India had manufacturing value added of over US$420 billion, making it the 5th-largest manufacturer in the world.
India, with the second largest population in the world, has room for improvement across the drivers of production, except for demand environment where it ranks top 5, the WEF said. fii-news.com
