The WEF’s Global Competitiveness Index has wider parameters compared to the Ease of Doing Business index. So, India’s fall in the former’s ranking index is indeed a rude reminder. PM Modi’s government must take urgent corrective steps to capitalise on the changing global trade landscape and revive a floundering economy.
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The disappointing performance of exports reflects a growing loss of global competitiveness. Reversing it would create an engine for growth and job creation. Also take the pressure of the CAD.