All About Global Competitiveness report : agri learner

➢ The Global Competitiveness Report (GCR) is a yearly report published by the World Economic Forum
Agrilearner
➢ It was first published in the year 1979

➢ The Global Competitiveness Report is designed to help policy-makers, business leaders and other stakeholders around the world shape their economic strategies and annual assessment of the drivers of long-term growth.

➢ The 2018 edition of the GCR represents a milestone in the four-decade history of the series, with the introduction of the new Global Competitiveness Index 4.0

➢ GCI 4.0 index highlights an emerging set of drivers of productivity and long-term growth in the era of the Fourth Industrial Revolution

WEF was founded in 1971 as a not-for-profit organization by Professor Klaus Schwab ,who is the founder and executive chairman of World Economic Forum.

✓ It is based in Geneva , Switzerland.

✓ It gained formal status in January 2015 confirming the role of the Forum as an International Institution for Public Private Cooperation.

US has topped the GCI 4.0 , with a competitiveness score of 85.6, it is just 14 points away from the frontier mark of 100 Agrilearner

➢ The frontier of Global Competitiveness Index means the ideal state, where a country would obtain the perfect score on every component of the index. Agrilearner

➢ The GCI 4.0 framework is built around 12 main drivers of productivity which are called as the pillars of productivity Agrilearner

➢ GCI assesses the microeconomic and macroeconomic foundations of national competitiveness

➢ These include set of institutions, policies, and factors that determine the level of productivity of a country , which is considered as the most important determinant of long-term growth.

➢ According to the Global Competitiveness Report 2018 of World Economic Forum, India ranks 58 , out of 140 economies agrilearner

➢ The country has registered the largest gain of any country in the G20

➢ According to the report, the top performers in the “upper and lower middle-income brackets” are China and India and they are catching up with or even outperforming the average among high-income economies.

➢ Among the BRICS economies, China has topped the list , being 28th place , ahead of the Russian Federation (43rd), India (58th), South Africa (67th), and Brazil (72nd)

➢ India, however is dubbed as the “South Asia’s main driving force”
Agrilearner
➢ In the index of 2017-18 , India was placed at 40th spot among 137 countries.
Agrilearner
➢ The World Economic Forum (WEF) , in October 2018 , has announced its new Centre for Fourth Industrial Revolution in India.

➢ The Centre will be based in Maharashtra.

➢ It will be fourth center in chain-ones as part of WEF’s global network along with San Francisco (US), Tokyo (Japan) and Beijing (China) which are already functioning.
agrilearnerapp

➢ The Centre will facilitate to bring together government and business leaders to pilot emerging technology policies. It has selected drones, artificial intelligence and blockchain as the first three project areas.
agrilearnerapp
➢ NITI Aayog will coordinate partnership on behalf of government and work of Centre among multiple
ministries.