LONDON: Pakistan has been ranked 52nd, ahead of India (60th), among 79 developing economies in the Inclusive Development Index, according to a World Economic Forum (WEF) report. WEF’s ‘Inclusive Growth and Development Report 2017’, released in Davos, Switzerland on Monday, said that most countries were missing important opportunities to raise economic growth and reduce inequality at the same time because the growth model and measurement tools that have guided policy-makers for decades required significant readjustment. India has been ranked 60th, below neighboring China and Pakistan, according to the WEF report.
The Inclusive Development Index (IDI) is based on 12 performance indicators. In order to provide a more complete measure of economic development than GDP growth alone, the index has three pillars-Growth and Development, Inclusion and Intergenerational Equity, and Sustainability. Lithuania tops the list of 79 developing economies that also features Azerbaijan and Hungary at second and third positions, respectively. While India is placed at the 60th spot, many of the neighboring nations are ahead in the rankings. China is ranked at the 15th position, Nepal (27th), Bangladesh (36th) and Pakistan (52nd). Two BRIC nations, Russia and Brazil, are at 13th and 30th places, respectively. Others in the top ten are Poland (4th), Romania (5th), Uruguay (6th), Latvia (7th), Panama (8th), Costa Rica (9th) and Chile (10th).