India slips 10 places in global competitive index: WEF report

New Delhi: India is less competitive than a year ago because of poor health conditions, low life expectancy and weak adoption of technology, the World Economic Forum (WEF) said on Wednesday. The limited progress in improving information, communications and technology too contributed to the country falling 10 places to rank 68 in 2019. The WEF’s latest assessment of the factors behind productivity and long-term economic growth pushed India down by 10 ranks to the 68th position. It said despite high macroeconomic stability and market size and a relatively deep financial sector, the high delinquency rate in returning loans contributed to weakening the soundness of its banking system. tns