Key Information
- Name of the Index- Global manufacturing index
- Released by- World Economic Forum
- Top country- Japan
- Rank of India-30
About Global manufacturing index
- Recently World Economic Forum released Global Manufacturing Index which ranks various countries. 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.
- The rankings of Global Manufacturing Index was based on the World Economic Forum’s ‘Readiness For The Future Of Production’ report. This report analyses the development of modern industrial strategies in different countries.
The report 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); or Nascent (limited current base, low level of readiness for future).
Top 10 countries in Global Manufacturing Index
| Name of the country | Rank |
|---|---|
| Japan | 1st |
| South Korea | 2nd |
| Germany | 3rd |
| Switzerland | 4th |
| China | 5th |
| Czech Republic | 6th |
| USA | 7th |
| Sweden | 8th |
| Austria | 9th |
| Ireland | 10th |
India & Global Manufacturing Index:
As per the report:- India ranked at 30th place in Global Manufacturing Index
- India has been placed in the 'Legacy' group along with Hungary, Mexico, Philippines, Russia, Thailand and Turkey, among others.
- India is the 5th-largest manufacturer in the world with a total manufacturing value added of over USD 420 billion in 2016
- India’s manufacturing sector has grown by over 7 percent per year on average in the past three decades.
- India’s manufacturing sector accounts for 16-20 percent of India's GDP.
- In terms of the scale of production, India has been ranked 9th, while for complexity it is at 48th place.
- For market size, India is ranked 3rd, while areas where the country is ranked poorly (90th or even lower) include female participation in labour force, trade tariffs, regulatory efficiency and sustainable resources
India & Neighbors:
Overall, India is ranked better than its neighbours. Some of the neighbour countries global manufacturing index ranks are- China-5th
- Sri Lanka-66th
- Pakistan-74th and
- Bangladesh-80th
India & BRICS:
India ranked second in Global Manufacturing Index among BRICS nations whereas China stands in First Position among BRICS countries- China is ranked 5h
- Russia is ranked 35th,
- Brazil 41st and
- South Africa at 45th place.
Model Questions:
1. Headquarters of World Economic Forum is located at:a. Paris
b. Geneva
c. New York
d. Beijing
2. Which country ranked first in Global Manufacturing Index?
a. USA
b. UK
c. Japan
c. China
3. What is India’s rank in Global Manufacturing Index?
a. 20
b. 27
c. 28
d. 30
4. Which among the following organisation releases Manufacturing Index?
a. UNESCO
b. WTO
c. WEF
d. UNO
