New Delhi, June 4 (PTI): India has been ranked 45th, down four notches from last year, in terms of competitiveness in the annual rankings compiled by IMD which saw Hong Kong topping the list. Switzerland and Singapore were ranked second and third respectively, with the USA at the fourth spot -- its lowest position in five years and down from third last year. The Netherlands completed the top five, jumping up from eighth last year.Others in the top 10 list include Ireland at 6th, Denmark 7th, Luxembourg (8th), Sweden (9th) and UAE at 10th. As India slid, China improved its position by seven places to 18th, thanks to its dedication to international trade.The International Institute for Management Development’s (IMD) World Competitiveness Center is a research group at IMD business school in Switzerland. It has been publishing the rankings every year since 1989. This year’s list comprises 63 countries with Cyprus and Saudi Arabia making their first appearance.
