Why is it in the news?
- World Digital Competitiveness Ranking(WDCR) 2019 report has been released
About the report:
- The report has been prepared by the International Institute for Management Development(IMD) World Competitiveness Center.
- It measures the capacity and readiness of 63 nations to adopt and explore digital technologies as a key driver for economic transformation in business, government and wider society.
- The countries are ranked based on three factors which are:
- Knowledge – the capacity to understand and learn the new technologies,
- Technology – the competence to develop new digital innovations
- Future Readiness- the preparedness for the coming developments.
Highlights of the report:
- India has jumped four places from 48th place in 2018 to 44th rank in 2019.
- The country has improved overall in all factors such as knowledge, technology and future-readiness as compared to the previous year’s ranking.
- The biggest improvement is in the technology sub-factor level holding the first position in telecommunications investment.
- The US was ranked as the world’s most digitally competitive economy, followed by Singapore in second place.
- However, the largest jump in the overall ranking was registered by China moving from 30th to 22nd and Indonesia from 62nd to 56th.