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Entrepreneurship & Global Competitiveness: A Study on India

Indian Journal of Industrial Relations

Volume 47 Issue 4

Published: 2012
Author(s) Name: Subrata Dutta
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Abstract

World Economic Forum (WEF) has ranked 139 countries in 2010-11 in order to assess each country’s global competitiveness. The assessment has been made on the basis of 12 pillars, further classified under: ‘basic requirements’ (four pillars), ‘efficiency enhancer’ (six pillars) and ‘innovation and sophistication factors’ (two pillars).India is significantly lagging behind in ‘basic requirements’ as far as its global competitiveness is concerned. In only ‘national savings rate’ within the 3rd pillar (macroeconomic environment) under ‘basic requirements’, India is found to be highly competitive (rank 9). In the 10th pillar, (market size) India ranked as high as 4. In order to promote entrepreneurship as well as industrialisation, India needs to pay close attention to other areas, e.g., infrastructure, government debt, inflation, health and primary education, and higher education.

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