India, the world?s second-largest growing economy, fares poorly in industrial competitiveness and is way behind China, a United Nations Industrial Development Organisation report shows.
In an industrial development scoreboard prepared by the UNIDO, the country is ranked 41 in the list of 100 economies, while the top growing economy of the world?China?is placed at the 26th position in terms of competitiveness of their industries in a liberalising world.
Singapore tops the UNIDO list and is followed by Ireland, Switzerland, Japan, Belgium, Sweden, Finland, Germany, Korea, Taiwan Province of China, France, the US, Hong Kong, Austria, Slovenia in the top 15.
However, India fared better than its neighbours with Pakistan ranked 55th, Bangladesh 67th and Sri Lanka occupying the 75th position. Others in the list are the UK (16), the Netherlands (17), Malaysia (18), Canada (22), Malta (23), Mexico (30), Brazil (39) and Russia (66).
?Industrialised countries continue to lead the rankings, while transition economies are tightly grouped in the middle ranks. Further, developing countries show a wide variation in their relative positions, with the economies of East Asia and South-East Asia leading Latin America and the Caribbean, South Asia and sub-Saharan Africa,? UNIDO said in a release.
The scoreboard is based on two sets of components, namely industrial development indicators and competitive industrial performance index, the latter benchmarking competitive industrial activity of countries against the backdrop of liberalisation and globalisation.
The index measures the competitive performance of countries in terms of their ability to produce goods competitively, keeping abreast with changing technologies as well as the intensity of industrialisation, which is the share of manufacturing value added in GDP.
It also takes into account export quality, reflecting the role of manufacturing in a country?s export activity as well as the ability to make more advanced products, thereby moving into more dynamic areas of export growth, UNIDO said.