Global Competitiveness Report 2015-2016 released by World Economic Forum

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Who: Global Competitiveness Report 2015-2016
What: Released by World Economic Forum
When: 30 September 2015

World Economic Forum (WEF) on 30 September 2015 released the Global Competitiveness Report (GCR) 2015-2016. The report assesses the competitiveness landscape of 140 economies, providing insight into the drivers of their productivity and prosperity and it remains the most comprehensive assessment of national competitiveness worldwide.

The report says that failure to embrace long-term structural reforms that boost productivity and free up entrepreneurial talent is harming the global economy’s ability to improve living standards, solve persistently high unemployment and generate adequate resilience for future economic downturns.

The Global Competitiveness Report 2015-2016 finds countries need higher productivity to address sluggish global growth and persistent high unemployment and failure to boost competitiveness is compromising resilience to recession and other shocks

The report highlights that after five years of decline, India jumped 16 ranks to 55th place compared to 71st rank in 2014-15 report.