India has been ranked at 44th position in the Annual Global Competitiveness report prepared by a Switzerland-based International Institute for Management Development. The report has cited problems like high corporate taxes and existence of a parallel economy for the low ranking. The United States has been ranked at top due to its strong business efficiency and financial sector, its innovation drive and the effectiveness of its infrastructure.
Among the many criteria India has scored well in areas like real GDP growth per capita, government decisions, transparency, risk of political instability, labor productivity ..etc. India has failed to score well in areas like direct investment flows abroad, government budget surplus/deficit, pension funding, food cost, parallel economy, Pupil-teacher ratio (primary education), pollution problems..etc.
India was ranked 13th in the Asia Pacific category.
The List of Top 10 Countries
1. United States
2. Hong Kong
3. Singapore
4. Switzerland
5. Canada
6. Luxembourg
7. Norway
8. Denmark
9. Sweden
10. Germany
