Mumbai, January 15: The World Economic Forum in its 'global manufacturing index' report has ranked India 30th. Japan has topped the list followed by South Korea, Germany, Switzerland, China, Czech Republic, US, Sweden, Austria and Ireland in the top 10. The nations are ranked based on four categories such as- Leading, High Potential, Legacy and Nascent.
The report, which analyses development of modern industrial strategies and urges collaborative action, has categorised 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); or Nascent (limited current base, low level of readiness for future).
The 25 ‘leading’ countries 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.
Among BRICS nations, Russia is ranked 35th, Brazil 41st and South Africa at 45th place. Other countries ranked below India include Turkey, Canada, Indonesia, New Zealand, Australia, Hong Kong, Mauritius and the UAE.
In the Indian context the report said, the country's manufacturing sector has grown by over 7 percent per year on average in the past three decades and accounts for 16-20 percent of India's GDP. It said, India has room for improvement across the drivers of production, except for demand environment where it ranks in the top 5.