India slips down the Global Competitiveness rankings for the sixth consecutive year
The Dollar Business Bureau | @TheDollarBiz The World Bank estimates that it takes 12 procedures and almost a month to register a business in India. Taxes amount to 63% of a company's profits, and the labour market is inefficient and rigid, it says. India has slipped several notches down in the World Economic Forum’s (WEF) Global Competitiveness Index (GCI) 2014-15 to the 71st rank, down from the 60th rank India stood at in the GCI 2013-14 rankings. While Switzerland retains its top spot for the sixth consecutive year, Singapore continues to be at No.2. All other BRICS countries are above India in the rankings and several ASEAN nations have improved their rankings this year: Malaysia (20, up from 24 in ...
