The World Economic Forum has ranked India at 30th position on a global manufacturing index reported PTI. It has been ranked below China but above other BRICS countries, i.e. Brazil, South Africa and Russia.
Brazil has been ranked 35th, Russia 35th, and South Africa at 45th place. Japan gained the first position having the 'best structure of production' in WEF's first 'Readiness for the future of production report'. It is followed by South Korea, Germany, Switzerland, China, Czech Republic, the US, Sweden, Austria, and Ireland to complete the top 10.
The report was based on an analysis of the development of modern industrial strategies and urges collaborative action. It has categorized 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
- Nascent- limited current base, low level of readiness for future
India made it to the 'Legacy' group along with Hungary, Mexico, Philippines, Russia, Thailand, and Turkey, among others. China is among 'leading', while Brazil and South Africa are 'nascent' countries.
The 25 'leading' countries who are in the best position to gain as production systems stand on the brink of exponential change, the WEF said in the report published ahead of its annual meeting in Davos, Switzerland later this month. At the same time, no country has reached the frontier of readiness, let alone harnessed the full potential of the Fourth Industrial Revolution in production.