WEF ranks India 30th on global manufacturing index; Japan tops list

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The World Economic Forum (WEF) has ranked India at 30th position on a global manufacturing index — below China’s 5th place but above other BRICS peers, Brazil, Russia and South Africa.

Japan has been found to have the best structure of production in the Geneva-based WEF’s first ‘Readiness for the future of production report’ and is followed by South Korea, Germany, Switzerland, China, Czech Republic, the US, Sweden, Austria and Ireland in the top 10.

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.

About India, the 5th-largest manufacturer in the world with a total manufacturing value added of over USD 420 billion in 2016, the WEF said the country’s manufacturing sector has grown by over 7 per cent per year on average in the past three decades and accounts for 16-20 per cent of India’s GDP.

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