In the latest world economic forum report, India ranks thirty (30th place) in terms of global manufacturing index. The list is being toped by world technology leader Japan. Japan is followed by South Korea, Germany, Switzerland and China.
In comparison with BRICKS countries India is only behind China. China has been placed at 5th place in latest WEF report about global manufacturing index. All other bricks countries that are Brazil, Russia and South Africa have been below India. Russia is at 35th place, Brazil at 41st place and South Africa is at 45th as per the report.
The WEF global manufacturing index report has indexed 100 countries and categorized the countries into four groups below:
- 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)
- Nascent (limited current base, low level of readiness for future).
Out of above four categories, India has been placed under third group which is ‘Legacy’ with other countries of Legacy group like Hungary, Mexico, Philippines, Russia, Thailand and Turkey and others. China has been placed in Leading group whereas Brazil and South Africa comes under ‘nascent’ group.
India is the fifth largest manufacturing country of the world with having total value of manufacturing around USD 420 billion in 2016, As per the WEF report there has been a notable growth in the manufacturing sector of India by 7% per years as per the last three decades.
Below are top ten Countries in WEF global manufacturing index
- South Korea
- Czech Republic