Discover India’s Digital Edge: 49th in IMD’s World Digital Competitiveness Ranking!
The 2023 World Digital Competitiveness Ranking (WDCR) has been released by the International Institute for Management Development (IMD), revealing that India holds the 49th position out of 64 economies. The study conducted by IMD highlights India’s notable progress in cybersecurity knowledge, but also points out its shortcomings in areas such as technology and future readiness. The World Digital Competitiveness Ranking by IMD provides valuable insights into how different countries are adapting to the digital transformation era, particularly in relation to artificial intelligence (AI).
Essentially, it illuminates the essential elements that contribute to a nation’s genuine digital prowess. This is a crucial feature as the impact of this technology continues to transform society. The leading economies in this year’s rankings are like “digital nations,” meaning countries that are actively promoting the comprehensive integration of digital technologies spanning AI, government, business, and individual spheres. The United States returned to the top spot with strong results in all three factors: knowledge, technology and future readiness.
The consistency is the same as that of the Netherlands, which moved up four places to rank second, followed by Singapore, which ranked first in the technology factor. The overall leader of the 2022 series, Denmark, fell to fourth place, mainly due to the deterioration of future readiness and technological factors. Switzerland, the top economy in the information factor, maintained its position and finished fifth. In the Asia-Pacific region, India has slipped to 12th place among 14 countries, after being 11th for four consecutive years. On the other hand, India is ranked 18th among 27 countries with more than 20 million inhabitants, falling two places compared to last year.
“While we don’t measure specific AI indicators, the technology is quietly at the heart of several quantified components: talent, regulatory and technological frameworks, and adaptive attitudes and business agility. At the data level, the quality of digital regulation, funding available for technology development, and business agility are all data points intertwined with AI ”, explains Professor Arturo Bris, Director of the World Competitiveness Center at IMD, which has produced WDCR since 2017.
When it comes to cybersecurity knowledge, India advanced in areas such as talent, education and training, but retreated in the sub-factor of scientific focus. The top strengths were science graduates and R&D productivity by publication. In technology, India ranks 50th, contract enforcement, wireless broadband and internet users were the biggest weaknesses, while investment in telecommunications and IT and media stock market value emerged as the company’s biggest strengths. India was ranked 51st in the future readiness parameters, where it saw tablet ownership, e-commerce and e-governance as the biggest weaknesses, while global robot delivery emerged as the biggest strengths. The World Bank has identified five countries that will account for 75% of total global digital infrastructure investment in 2023: China, Brazil, India, Indonesia and Vietnam.
These countries invested $68.3 billion. About the International Institute for Management Development (IMD) The International Institute for Management Development (IMD) is an independent academic institute based in Lausanne (Switzerland) and Singapore, founded by business leaders for business leaders.
It aims to be a trusted learning partner for ambitious individuals and organizations worldwide. Its executive education and training programs are consistently ranked among the best in the world by the Financial Times, Bloomberg, Forbes and others. Its industry leadership is based on our unique approach to creating real learning, real impact. Note: The information is subject to a strict embargo until 30. until October 2023, and are subject to change. (Disclaimer: The above press release comes to you in accordance with the agreement with PNN and PTI takes no editorial responsibility for it.). PTI PWR PWR
