India has slipped 10 places to the 68th rank on an annual global competitiveness index, according to a latest update. The annual Global Competitiveness Index is compiled by Geneva-based World Economic Forum (WEF). The WEF said that India ranks high in terms of macroeconomic stability and market size though its financial sector is relatively deep and stable despite the high delinquency rate, which contributes to weakening the soundness of its banking system.
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