Why in News?

• India has advanced four places to 44^th position in terms of digital competitiveness in the world.

Highlights:

• The Ranking, produced by the IMD World Competitiveness Center, measures the capacity and readiness of 63 nations to adopt and explore digital technologies as a key driver for economic transformation in business, government and wider society.
• To evaluate an economy, WDCR examines three factors:
  • Knowledge: the capacity to understand and learn the new technologies;
  • Technology: the competence to develop new digital innovations; and
  • Future readiness: the preparedness for the Coming Developments.

India’s Progress:

• India rose from 48th place in 2018 to 44th rank this year as the country has improved overall in all factors — knowledge, technology and future readiness — as compared to the previous year’s ranking.
• India has made improvement in terms of knowledge and future readiness to adopt and explore digital technologies, according to a global report.

Global Scenario:

• The US was ranked as the world’s most digitally competitive economy, followed by Singapore in the second place.
• Sweden was ranked third on the list, followed by Denmark and Switzerland in the 4th and 5^th place, respectively.
• Others in the list of top-10 most digitally competitive economy include Netherlands in the 6^th place, Finland (7^th), Hong Kong SAR (8^th), Norway (9^th) and Republic of Korea (10^th).
• The largest jump in the overall ranking was registered by China, moving from 30th to 22^nd, and Indonesia, from 62^nd to 56