Divergent narratives

Five years ago, the World Economic Forum gave India a competitiveness score of 4.3, one notch below China’s 4.4. Earlier this week, the latest scores were the same 4.3 for India, and 4.9 for China. The average score for 80 emerging and developing countries has moved up in these five years from 4.1 to 4.4. From being ahead of that average, India has fallen behind. Why? The Forum cites two reasons: deterioration in the macro-economic environment (higher deficits and inflation), and deterioration in the quality of public institutions (corruption and burdensome regulations).

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