India has improved its position by two notches as per the World Economic Forum’s Global Competitiveness Index (GCI) rankings for 2006-07. At the 43rd position, it is well ahead of Brazil (66), China (54) and Russia (62).

The report which was released yesterday makes special mention of the tangible improvement in the quality of business environment in India. Goods, labour and financial markets are making gains in efficiency, it says, adding that India has seen substantial improvements in the quality of public institutions and the underlying institutional climate in such areas as property rights, the operation of the judicial system and other indicators which capture essential aspects of building a sound investment climate.