World Economic Forum (WEF) released its annual Inclusive Development Index (IDI), ahead of its annual meet today which will be attended by several important leaders of the world. India attained the 62nd place among emerging economies.
IDI is a WEF initiative where 103 countries are assessed annually to measure their performance on various dimensions of economic progress besides GDP. It has 3 pillars: (as per WEF's official website)
- Growth and development
- Intergenerational equity- sustainable stewardship of natural and financial resources
China was given the 26th position and Pakistan was ranked 47th, which is above India's ranking.
Norway won the 1st position as the world's most inclusive advanced economy and Lithuania topped the list of emerging economies again.
The results were based on "living standards, environmental sustainability, and protection of future generations from further indebtedness". WEF urged the governments of the world to not rely only on GDP as a measure of economic development. It is making efforts to convince world leaders to adopt a model of inclusive growth and development that does not fuel short-termism and inequality.
India was ranked at the 60th position last year while China was at 15th and Pakistan 52nd.
India is among the ten emerging economies in 2018 with 'advancing' trend, despite its low overall score.