• India has retained its rank at 43rd position among 63 nations, in the annual World Competitiveness Index for the year 2021 compiled by Institute for Management Development (IMD).
• India was at 43rd spot in 2019 and 2020 as well.
• The World Competitiveness Index 2021 list has been topped by Switzerland.
• Switzerland, Sweden, Denmark, the Netherlands and Singapore are the top five countries respectively.
• Among the BRICS nations, India is ranked second after China (16), followed by Russia (45th), Brazil (57th) and South Africa (62th).

IMD World Competitiveness Ranking

• The IMD World Competitiveness Ranking is being produced by the IMD business school based in Switzerland and Singapore every year since 1989.
• It analyzes and ranks countries according to how they manage their competencies to achieve long-term value creation.
• 2021 World Competitiveness Ranking is the 33rd edition of the index.
• This year, the index has also examined the impact of COVID-19 on economies around the world.