What is the issue ?
- India has been ranked 30th in the Global Manufacturing Index.
Which organisation brings out this index ?
- World Economic Forum (WEF)
Significant takeaways from the report :
- Japan has been found to have 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
- India placed at 30th is only below China(5th rank) among the BRICS countries.
- India’s manufacturing sector has grown by over 7% per year on average in the past three decades and accounts for 16-20% of India’s GDP.
- India has room for improvement across the drivers of production, except for demand environment where it ranks in the top 5
- It listed human capital and sustainable resources as the two key challenges for India and said the country needs to continue to raise the capabilities of its relatively young and fast-growing labour force.
- India is ranked better than its neighbours Sri Lanka (66th), Pakistan (74th) and Bangladesh (80th)
What is it ?
- International Organisation since 2015
- Its mission is cited as "committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas".
When/Where was it conceived ?
- It was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland. It is independent, impartial and not tied to any special interests.
Founding members ?
The forum was founded in 1971 by Klaus Schwab.
First named the "European Management Forum", it changed its name to the World Economic Forum in 1987 and sought to broaden its vision to include providing a platform for resolving international conflicts.
Functions performed ?
- The flagship event of the foundation is the invitation-only annual meeting held during the winter at the end of January in Davos, Switzerland, bringing together chief executive officers from its 1,000 member companies, as well as selected politicians, representatives from academia, NGOs and religious leaders.
What are its key areas of focus ?
- Mastering the foruth industrial revolution
- Solving the problems of the global commons
- Addressing the global security issues
Reports published :
- Global Information Technology Report
- Travel and Tourism Competitiveness Report
- Global Competitiveness Report (GCR)
- Global Gender Gap report
- Global Human Capital report