India ranks 30th on WEF global manufacturing index; Japan tops ranking

The report said that India's manufacturing sector has grown by over 7 per cent per year on average in the past three decades and accounts for 16-20 per cent of India's GDP.

By: Express Web Desk | New Delhi | Updated: January 14, 2018 4:57 pm
manufacturing growth The forums also took note of PM Modi-led government’s ‘Make in India’ initiative. (Express Photo by Nirmal Harindran)

The World Economic Forum (WEF) on Sunday released its Global Manufacturing Index putting India on the 30th position, five places below China, which is continuously striving to develop better avenues of manufacturing by boosting infrastructure.

Meanwhile, Japan topped the rankings on the back of developing the best structure of production in the Geneva-based WEF’s first ‘Readiness for the future of production report’ and is followed by South Korea, Germany, Switzerland, China, Czech Republic, the US, Sweden, Austria and Ireland in the top 10.

Talking about India, which had a total manufacturing value of over $420 billion in 2016, the report said that the country’s manufacturing sector has grown by over 7 per cent per year on average in the past three decades and accounts for 16-20 per cent of India’s GDP.

The WEF said, “Home to the second-largest population in the world and one of the fastest growing economies, the demand for Indian manufactured products is rising. India has room for improvement across the drivers of production, except for demand environment where is ranks in the top 5.”

The forums also took note of the Prime Minister Narendra Modi-led government’s ‘Make in India’ initiative to open India into a manufacturing hub, and moving towards a more connected economy with an announcement of a $59 billion investment in infrastructure in 2017.

The report has categorised 100 countries in four major groups for its ranking which include, Leading (strong
current base, high level of readiness for future); High Potential (limited current base, high potential for future);
Legacy (strong current base, at risk for future); or Nascent (limited current base, low level of readiness for future).

India has been placed in the Legacy group alongside Hungary, Mexico, Philippines, Russia, Thailand and Turkey, among others. Meanwhile, China is on the list of Leading countries. The report pointed out that the 25 countries placed in the Leading category were in the best position to gain as production systems stand on the brink of exponential change.

In terms of the scale of production, India has been ranked ninth, while for complexity it is at 48th place. For market size, India is on third spot, while areas where the country is ranked poorly (90th or even lower) include female participation in labour force, trade tariffs, regulatory efficiency and sustainable resources.

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  1. R
    Rajesh Satya Kumar
    Jan 23, 2018 at 1:42 pm
    India's 2nd position as per world population census as per that India's position should be 2nd largest economy very very shame to equate our total economy with very small nations like UK France Germany Japan Brazil South Africa Italy Spain Australia Switzerland Finland Norway all nations except China because China is a huge nation like India but China too far far far ahead of India so better we people think to improve our economic activities without depending international market and without depending international investment. Because international investment means looting our nation. So our ratings is very very very poor to discuss in DAVOS and in other international trade seminars.
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    1. Kushal Kumar
      Jan 23, 2018 at 8:27 am
      Wisdom for patience in 2018 in relation to economic growth while some targets claim it otherwise. This Vedic astrology writer has already alerted for more care and appropriate strategy through article - " Astrologically speaking , some highlights for India in coming year 2018" - published at theindiapost on 19 October , 2017. Some areas of economy like art , entertainment , cinema , creative or innovative talents , however , look to be doing well to contribute to the economy.
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      1. Lopamudra Majumdar
        Jan 15, 2018 at 1:29 pm
        read carefully before going hyperbole
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        1. gayatri kalita
          Jan 14, 2018 at 7:22 pm
          Way to go !
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          1. DILIP
            Jan 14, 2018 at 7:10 pm
            Now wait for the CON GIT and sickular spins in denying this MODI achievement. The incandescent red bottom monkeys burn on any good ECONOMIC NEWS. INDIA TODAY IS RANKED AS THE 5TH BIGGEST ECONOMY IN THE WORLD RANKED IN DOLLAR GDP, AHEAD OF U.K.,FRANCE. RUSSIA. BRAZIL, ITALY AND MANY OTHERS, ALSO IS THE 5TH BIGGEST MANUFACTURING POWER, ALL THESE ARE MADE POSSIBLE BY MODI'S REFORMING ECONOMIC POLICIES INCLUDING DEMONETISATION. Sickular KUTTA'S hardly has any more toxic gas left up their propa gan d ist azz h0le.
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            1. R
              Rajesh Satya Kumar
              Jan 23, 2018 at 1:24 pm
              India's position should be 2nd as per the 2nd largest population in the world very shame to equate with very small nations like UK France Italy Japan Germany Brazil and other European nations
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