Switzerland replaces US at top of WEF competitiveness rankings

Switzerland has emerged at the top of the overall ranking in the Global Competitiveness Report 2009-2010 of the World Economic Forum while India moved up a bit in its competitiveness raking and is now placed 49th in the list of 133 countries.

China, India's BRIC competitor, on the other hand, is placed at 29th, a rank higher from its previous level.

India's GDP has grown by an average 6.6 per cent per year since 1991 but its GDP per capita remains just above $1,000 - a third and a tenth, respectively, other major emerging economies of China and Russia, the WEF report noted. (See: Global Competitiveness Rankings)

The WEF report also said a wide gap exists between rural India and the thriving urban economic and technological hubs.

"India hosts some of the best universities in the world, and a number of Indian corporate giants have become major global players or even leaders in their fields. At the same time, some 42 per cent of the population lives on less than $1.25 a day (in PPP dollars), more than twice China's equivalent figure," the report said.

"Mirroring this dichotomy, India's competitive performance continues to exhibit a rather reversed development pattern," WEF said