International competitiveness for India

India has been very much competitive internationally but recently it has fallen to the 68th
position which is 10 places lower. This was due to improvements of other countries like
Singapore which have become more competitive.
Despite all the downfall, India has been pretty competitive. India has always been prepared
for the future. The global competitiveness index integrates well established faces with new
and emerging drivers that determine productivity and growth of a country. The key drivers
are infrastructure, ICT adoption, Macroeconomic stability, health, skills, product market,
labor market, financial system, market size, business dynamism and innovation capability ("5
facts about India's competitiveness globally - Make In India", 2020).1
Since India has always been competitive internationally it states that they were always
prepared and could predict the future pretty well which helped them to adapt to the new
systems.
India has also improved its rank on the enabling environment components pillar of the global
competitiveness capability ("5 facts about India's competitiveness globally - Make In India",
2020).2 They had faced immense changes in the technological sector. Their performance on
the internet and communication has improved. ICT indicators such as internet bandwidth per
use, mobile phone and broadband subscription has become more accessible. This has
increased their global competitiveness. For example, the Ambanis who own Reliance
Industries did witness a high growth since there was an increase in technological
advancements.
India also has witnessed a change and improvement in their infrastructure sector. India’s
ranking on the infrastructure pillar of the Global competitiveness improved 3 places to the
63rd position. The World Economic Forum measures effective modes of transport as well as
telecommunications network and electricity supply ("5 facts about India's competitiveness
globally - Make In India", 2020)3 has also seen positive changes. India has been taking more
steps too, for example, the well-known companies are trying to identify where the

1
5 facts about India's competitiveness globally - Make In India. (2020). Retrieved 25 May 2020, from
https://www.makeinindia.com/five-facts-about-india-s-competitiveness-globally

2
5 facts about India's competitiveness globally - Make In India. (2020). Retrieved 25 May 2020, from
https://www.makeinindia.com/five-facts-about-india-s-competitiveness-globally

3
5 facts about India's competitiveness globally - Make In India. (2020). Retrieved 25 May 2020, from
https://www.makeinindia.com/five-facts-about-india-s-competitiveness-globally
government is acquired and the sectors where they can flourish. After that they are
considering a distributed model and are trying to achieve the goals according to the plan.
They also focus on the project that are right and has a proper investment. Lastly, they make
the investment. Since they have done their proper research they companies very well know
how to manage the international companies. This has resulted to positive growth in the
infrastructure sector. The top infrastructure companies in India are GMR Infrastructure
Limited, IRB Infrastructure Developers Limited and etc. For these companies the
infrastructure of India has improved.
India has also seen a positive side in terms of education and literacy. Statistics show that
higher education in India have helped the country’s points rise by 42 points. This shows that
India is working on its education sector. The educational institutions have improved their
quality and more people are becoming literate. This means that if people are getting more
educated, they will be making rational decisions. All in all, they will be eligible to work
properly which increases their productivity as a whole. If more people are working and
earning, they will be consuming more. As a result, in India the purchasing power of
consumers are high which automatically attracts global attention since India seems more
stable this way. Hence, they act more competitive in the global market.
Lastly, India has been among the top 50 countries globally for its good relationship with other
major countries.
To come to ca conclusion, there might be a lot of scope for India to achieve growth globally
but as a matter of the present it is not doing bad. They have improved R&D to work and get
with the pace like before. The laws are also being adjusted to, therefore there will be less
rules and regulations while going global.
India adopted planned development strategy for industrial development by assigning
significant role to the public sector since independence. The government regulated various
aspects related to investment, production and trade by the private sector through industrial
licensing and other controls and measures. However, these policies proved detrimental for the
industrial efficiency and competitiveness due to lack of competition (2020).4 The process of
globalisation and liberalisation has brought a considerable awareness towards improving the
competitive process in developing economies such as India 2020).5

4
(2020). Retrieved 25 May 2020, from https://sg.inflibnet.ac.in/bitstream/10603/10143/9/09_chapter
%208.pdf

5
(2020). Retrieved 25 May 2020, from https://sg.inflibnet.ac.in/bitstream/10603/10143/9/09_chapter
%208.pdf
Therefore, India can grab the opportunity to grow globally by adapting to different changes in
terms of technology, infrastructure, skilled labours and higher education of the people. The
government may also play a vital role in the near future to help the country grow globally.