CURRENT AFFAIRS

Detailed explanation-1: -The 63-nation list, which is compiled by the Switzerland-based Institute of Management Development (IMD), ranks Denmark on top, while Switzerland slipped from the top to the second position. Singapore has also regained the third spot in 2022 from fifth in 2021, the IMD’s economic competitiveness ranking data shows.

Detailed explanation-2: -Few countries with top ranking: Singapore ranked first in the World Competitiveness Index for 2021.

Detailed explanation-3: -Economic performance: It has improved from 37th in 2021 to 28th in 2022. Government efficiency: It has improved from 46th in 2021 to 45th in 2022. Business efficiency: It saw a huge improvement from 32nd rank in 2021 to 23rd in 2022.

Detailed explanation-4: -Denmark has been ranked at top position, among top 63-nation list. It was ranked at third position in 2021. Switzerland dropped from the top position to second position. It is followed by Singapore at third position, which was ranked at fifth, position.

Detailed explanation-5: -World Competitiveness Index, 2022: Parametres, India’s Performance And Initiatives. It examines the four aspects (334 competitiveness criteria) to assess a country’s wealth and competitiveness.