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 both China and Pakistan, according to the WEF report, carried by The Asian Age newspaper.
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 the 79 developing economies, with Azerbaijan and Hungary at second and third positions, respectively. While India is placed at the 60th spot, many of its neighbouring nations are ahead in the rankings.
China is ranked 15th in the IDI, 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, in descending order, are Poland, Romania, Uruguay, Latvia, Panama, Costa Rica, and Chile.