In an annual report of the World Economic Forum (WEF), India has slipped significantly lower. It has been said in this report that assesses the betterment brought for competition in the economy.

India was ranked number 58 in the Global Competitive Index last year but now it has reached number 68.

Singapore tops the index. Then there are countries like USA and Japan. Most African countries are at the bottom of this index.

The reason for India's ranking falling is being said to outperform other countries. In this index, China is 40 places above India at number 28, there is no change in its ranking.

Countries like Vietnam, Kazakhstan and Azerbaijan also rank above India in this list. Among the BRICS countries, China is at the top, while Brazil is also at number 71 below India.

The World Economic Forum says that India's economy is very large and quite stable, but the pace of economic reforms is very slow.

Colombia, South Africa and Turkey have outperformed India in the past year in terms of better economic environment and have overtaken India.

This report also states that signs of recession are appearing all over the world, which will be a big challenge for the economies.

Pakistan is at number 110 in this ranking while Nepal (108) and Bangladesh (105) are also above it.

In this report, India's health system, condition of workers and the state of banking services have been considered responsible for this decline.

This decline is undoubtedly a matter of concern for India. Especially at a time when India needs more investment and business activities to overcome lethargy.

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