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WEF ranks India 30th on global manufacturing index

WEF ranks India 30th on global manufacturing index

The World Economic Forum (WEF) has ranked India at 30th position on a global manufacturing index. India has scored the rank 5 positions below china but is placed above other BRICS peers, Brazil, Russia and South Africa.

Meanwhile, Japan topped the rankings on the back of developing the best structure of production in the Geneva-based WEF’s first ‘Readiness for the future of production report’ and is followed by South Korea, Germany, Switzerland, China, Czech Republic, the US, Sweden, Austria and Ireland in the top 10.

Global Manufacturing in India

  • India had a total manufacturing value of over $420 billion in 2016, the country’s manufacturing sector has grown by over 7 per cent per year on average in the past three decades and accounts for 16-20 per cent of India’s GDP.
  • India is the 5th-largest manufacturer in the world. Home to the second-largest population in the world and one of the fastest growing economies, the demand for Indian manufactured products is rising. 
  • India has been placed in the 'Legacy' group along with Hungary, Mexico, Philippines, Russia, Thailand and Turkey, among others.
  • In terms of scale of production, India has been ranked 9th, while for complexity it is at 48th place.
  • Overall, India is ranked better than its neighbours Sri Lanka (66th), Pakistan (74th) and Bangladesh (80th).

The countries ranked better than India include Singapore, Thailand, the UK, Italy, France, Malaysia, Mexico, Romania, Israel, the Netherlands, Denmark, the Philippines and Spain.

World Economic Forum:

The World Economic Forum (WEF) is a Swiss nonprofit foundation, based in Cologny, Geneva, Switzerland. The Forum is best known for its annual meeting at the end of January in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland. The meeting brings together some 2,500 top business leaders, international political leaders, economists, and journalists for up to four days to discuss the most pressing issues facing the world. Its mission is cited as "committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas".

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