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India continues to remain ranked 43rd on an annual World Competitiveness Index compiled by Institute for Management Development (IMD) with some traditional weaknesses like poor infrastructure and insufficient education investment keeping its ranking low, the international business school said on Tuesday.

Singapore has retained its top position on the 63-nation list.

Denmark has moved up to the second position (from 8th last year), Switzerland has gained one place to rank 3rd, the Netherlands has retained its 4th place and Hong Kong has slipped to the fifth place (from 2nd in 2019).

The US has moved down to 10th place (from 3rd last year), while China has also slipped from 14th to 20th place. Among the BRICS nations, India is ranked second after China, followed by Russia (50th), Brazil (56th) and South Africa (59th).

India was ranked 41st on the IMD World Competitiveness Ranking, being produced by the business school based in Switzerland and Singapore every year since 1989, but had slipped to 45th in 2017 before improving to 44th in 2018 and then to 43rd in 2019.

While its overall position has remained unchanged in the 2020 list, it has recorded improvements in areas like long-term employment growth, current account balance, high-tech exports, foreign currency reserves, public expenditure on education, political stability and overall productivity, the IMD said.

However, it has moved down in areas like exchange rate stability, real GDP growth, competition legislation and taxes.

Arturo Bris, Head of Competitiveness Center at IMD Business School, said India continues to struggle on the list and the recent country rating downgrade by Moody’s reflects the uncertainties regarding the economy’s future.

"In our ranking this year, we again emphasize the traditional weaknesses of India -- poor infrastructure, an important deficit in education investment, and a health system that does not reach everybody. For India to follow the path of China, it must stress its intangible infrastructure," Bris said.

"In a less global world, with China, USA, and Europe looking inwards, currencies like the rupee (and the Brazilian real for instance) are going to suffer and display high volatilities.

"Moody’s has threatened the country with a downgrade to junk and that would put India in a terrible position to attract foreign capital. So the urgency for the government should be to fix the short-term problems—and this requires to improve the credibility of the government itself," Bris added.

With the exception of Singapore, the Philippines, Taiwan and the Korean Republic, most Asian economies dropped in rankings this year, the IMD said.

The reason for the Asian economies’ less stellar performance as a region, this year is partly the result of the trade frictions between China and the US, particularly because these economies are highly dependent on trade with China.

About Singapore, which moved to the top rank last year, the IMD said its position is largely driven by the relative ease of setting up business, availability of skilled labour and its cutting-edge technological infrastructure.

The IMD said the impact of COVID-19 on the competitiveness ranking has partially been captured by executives’ opinions about the effectiveness of the different health systems.

In the ASEAN countries included in the survey, only Singapore and Thailand have a positive performance in the effectiveness of the health infrastructure.

Washington, Mar 28: A US-based lab has unveiled a portable test that can tell if someone has COVID-19 in as little as five minutes, it said in a statement Friday.

Abbot Laboratories said the US Food and Drug Administration (FDA) had given it emergency authorization to begin making the test available to healthcare providers as early as next week.

The test, which is the size of a small toaster and uses molecular technology, also shows negative results within 13 minutes, the company said in a press statement.

"The COVID-19 pandemic will be fought on multiple fronts, and a portable molecular test that offers results in minutes adds to the broad range of diagnostic solutions needed to combat this virus," said Abbot president and chief operating officer Robert Ford.

The test's small size means it can be deployed outside the "traditional four walls of a hospital in outbreak hotspots," Ford said, and Abbott is working with the FDA to send it to virus epicenters.

The test has not been cleared or approved by the FDA, and has only been authorized for emergency use by approved labs and healthcare providers, the company said.

Washington, Feb 5: Experts warned a US government panel last night that India's Muslims face risks of expulsion and persecution under the country’s new Citizenship Amendment Act (CAA) which has triggered major protests.

The hearing held inside Congress was called by the US Commission on International Freedom, which has been denounced by the Indian government as biased.

Ashutosh Varshney, a prominent scholar of sectarian violence in India, told the panel that the law championed by prime minister Narendra Modi's government amounted to a move to narrow the democracy's historically inclusive and secular definition of citizenship.

"The threat is serious, and the implications quite horrendous," said Varshney, a professor at Brown University.

"Something deeply injurious to the Muslim minority can happen once their citizenship rights are taken away," he said.

Varshney warned that the law could ultimately lead to expulsion or detention -- but, even if not, contributes to marginalization.

"It creates an enabling atmosphere for violence once you say that a particular community is not fully Indian or its Indianness in grave doubt," he said.

India's parliament in December passed a law that fast-tracks citizenship for persecuted non-Muslim minorities from neighboring countries.

Responding to criticism at the time from the US commission, which advises but does not set policy, India's External Affairs Ministry said the law does not strip anyone's citizenship and "should be welcomed, not criticized, by those who are genuinely committed to religious freedom."

Fears are particularly acute in Assam, where a citizens' register finalized last year left 1.9 million people, many of them Muslims, facing possible statelessness.

Aman Wadud, a human rights lawyer from Assam who traveled to Washington for the hearing, said that many Indians lacked birth certificates or other documentation to prove citizenship and were only seeking "a dignified life."

The hearing did not exclusively focus on India, with commissioners and witnesses voicing grave concern over Myanmar's refusal to grant citizenship to the Rohingya, the mostly Muslim minority that has faced widespread violence.

Gayle Manchin, the vice chair of the commission, also voiced concern over Bahrain's stripping of citizenship from activists of the Shiite majority as well as a new digital ID system in Kenya that she said risks excluding minorities.

More than 40 people were killed last week in New Delhi in sectarian violence sparked by the citizenship law.

India on Tuesday lodged another protest after the UN human rights chief, Michele Bachelet, sought to join a lawsuit in India that challenges the citizenship law's constitutionality.