-In he World Economic Forum (WEF)’s ‘Global Manufacturing Index 2018’, India is ranked at 30th position.
-Asian country Japan has topped the index which is followed by South Korea, Germany and Switzerland.
-Among BRICS nations, China is on top position, with overall 5th ranking at global level. Among BRICS nations, India has ranked above Brazil, Russia and South Africa. Russia is ranked 35th, Brazil 41st and South Africa at 45th place.
-The index, has categorised 100 countries into four groups –
- 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);
- Nascent (limited current base, low level of readiness for future).
-India has been placed in the ‘Legacy’ group.
-According to the report, the 25 ‘leading’ countries are in the best position to gain as production systems stand on the brink of exponential change.
-India fifth largest manufacturing hub: The report says that India is 5th-largest manufacturer in the world with a total manufacturing value added of over USD 420 billion in 2016. It also says 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.
Challenges before India: The report listed human capital and sustainable resources as the two key challenges for India. It also said that India needs to continue to raise the capabilities of its relatively young and fast-growing labour force.
India’s ranking on different parametres
- Scale of production: 9th,
- Complexity: 48th
- Market size: 3rd,
- Female participation in labour force: 90th
