Home / Knowledge / News / Textiles / 30th rank for India in WEF global manufacturing index
30th rank for India in WEF global manufacturing index
16
Jan '18
India has been ranked 30th on a global manufacturing index by the Geneva-based World Economic Forum (WEF). Japan, with the best production structure, topped the index in WEF’s first ‘Readiness for the future of production report’, followed by South Korea, Germany, Switzerland, China, Czech Republic, the United States, Sweden, Austria and Ireland.

Though India’s rank is much below China’s 5th position, it is above other BRICS nations, according to a news agency report. Russia holds 35th rank, Brazil 41st and South Africa 45th.

The report categorised 100 countries into four groups: leading, high potential, legacy and nascent. While China figures among ‘leading countries’ and Brazil and South Africa are ‘nascent’ ones, India is placed in the ‘legacy’ group along with Hungary, Mexico, Philippines, Russia, Thailand and Turkey.

The 25 ‘leading’ countries are in the best position to gain as production systems stand on the brink of exponential change, the WEF said in the report published ahead of its annual meeting in Davos, Switzerland later this month.

In India, the 5th-largest manufacturer with a total manufacturing value added of over $420 billion in 2016, the 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 gross domestic product (GDP), according to the report.

The report 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 should continue to diversify its energy sources and reduce emissions as its manufacturing sector continues to expand, it said.

In scale of production, India ranked 9th, for complexity it is at 48th place, and for market size, it is ranked 3rd. Areas where the country is ranked poorly include female participation in labour force, trade tariffs, regulatory efficiency and sustainable resources.

Countries ranked below India include Turkey, Canada, Indonesia, New Zealand, Australia, Hong Kong, Mauritius and the United Arab Emirates. The countries ranked better include Singapore, Thailand, the United Kingdom, Italy, France, Malaysia, Mexico, Romania, Israel, the Netherlands, Denmark, the Philippines and Spain.

The United States topped the list of countries best positioned to capitalise on the fourth industrial revolution to transform production systems, followed by Singapore, Switzerland, the United Kingdom and the Netherlands. India has been ranked 44th on this list, while China is at 25th place and Russia at 43rd.

The report has been developed in collaboration with A T Kearney and calls for new and innovative approaches to public-private collaboration are needed to accelerate transformation. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search