New Delhi:
Andhra Pradesh today signed a pactwith World Economic Forum under which the
Geneva-based organisation will help the state assess its competitiveness.
The Memorandum of Understanding (MOU), signed during the National Strategy
Day on India event of WEF, paves the way for a future collaboration that will
allow the state government and its partners to assess competitiveness.
Drawing on the work of the Forum in benchmarking competitiveness,
particularly through the use of the Global Competitiveness Index (GCI), the
Andhra Pradesh government and its partners will assess the competitiveness -
both strengths and weaknesses - of the state's economy.
The assessment will provide key data for the design of evidence-based
policies and reforms, and allow comparison with other economies of similar size
or at a similar stage of development.
"Collaboration with the World Economic Forum will provide us with the
methodology, tools and knowledge to design better policies," Andhra
Pradesh Chief Minister N Chandrababu Naidu said.
The methodology used to assess Andhra Pradesh’s competitiveness will draw
on the GCI, which measures a set of factors and policies that together
determine an economy’s level of productivity and its ability to prosper.
The assessment is based on the performance in 12 categories: institutions;
infrastructure; macroeconomic stability; health and primary education; higher
education and training; goods market efficiency; labour market efficiency;
financial sector development; technological readiness; market size; business
sophistication; and innovation.
"We look forward to sharing our expertise with key actors of Andhra
Pradesh’s development and building their capacity to carry out a similar
exercise for their state, which is home to almost 50 million people. The
potential impact of this initiative is therefore significant," said
Philipp Rosler, Head of the Centre for Regional Strategies and Member of the
Managing Board, World Economic Forum.
The Forum will provide technical support and help train government staff
on GCI methodology, data collection and interpretation of results, with the
goal of building capacity for the Government of Andhra Pradesh and its partners
to carry out competitiveness assessments independently and on a regular basis.
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