The ‘Inclusive Development Index’ released on Monday shows that economies were prioritising policies that support shorter growth over inclusion and sustainability, despite concerns about social inequality.
Pakistan ranked at 47th-15 points ahead to India – in the Inclusive Development Index (IDI) 2018 of the World Economic Forum while India was on Friday ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China’s 26th position and Pakistan’s 47th.
Earlier, India was ranked 60th among 79 developing economies last year, as against China’s 15th and Pakistan’s 52nd position.
Norway again holds the best performing advanced economy in 2018, with a consistently strong performance.
The index takes into account the “living standards, environmental sustainability and protection of future generations from further indebtedness”, the WEF said. It urged the leaders to urgently move to a new model of inclusive growth and development, saying reliance on GDP as a measure of economic achievement is fuelling short-termism and inequality.
The 2018 index, which measures progress of 103 economies on three individual pillars — growth and development; inclusion; and inter-generational equity — has been divided into two parts. The first part covers 29 advanced economies and the second 74 emerging economies.