AP World Number 3 in Market Size – Global Competitive Index

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When Andhra Pradesh Government along with the World Economic Forum prepared the Global Competitive Index, the state ranked third based on its market size. A recent report also confirmed that at the global level, India too ranked third when its market size was taken into consideration.

When parameters like primary education and health were considered, Andhra Pradesh fared quite poorly, securing 122nd rank while India ranked 103rd. With all the parameters put together, AP ranked 36th while India secured 51st rank.

In the year 2015, AP government had signed a Memorandum of Understanding (MoU) with WEF to consider various parameters and compare AP against these on the global level, in order to assess its competitiveness and prepare the ranks in form of indexes.

According to the reports presented, the state has ranked poorly in the health and primary education sector due to the poor quality of primary education and low level of net enrollment of children into primary education. When getting into the details of the ranks, it was also seen that the state scored quite low on perception indicators like the impact of malaria, TB and HIV on business.

The handiwork of WEF by using GCI in order to assess competitiveness was carried out by considering, the state economy’s strengths and weaknesses. The main idea behind this was to collect important data in order to design reforms and policies based on the present evidence, which would then prove beneficial to compare AP’s economy with that of the other countries that are at par when it comes to development.

The index report also indicated that when innovation parameters were considered, Andhra Pradesh at 28th rank fared a tad better than India as a whole, which secured 29th rank. The assessment proved that in various innovation and sophistication parameters, AP ranked 29th as compared to India with 50th rank.

The state secured good ranks for certain parameters like 34th for efficiency enhancers, 34th for institutes and 38th for goods marketing efficiency. As far as India is concerned, it gained 80th, 43rd and 65th ranks respectively for these parameters.

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