IMD Unveils 2023 World Digital Competitiveness Ranking (WDCR)

• 04 Dec 2023

India was positioned 49th among 64 economies in the 2023 World Digital Competitiveness Ranking (WDCR) recently released by the International Institute for Management Development (IMD).

Key Points

• Cybersecurity Advancements: Noteworthy progress in cybersecurity knowledge reported, but shortcomings identified in technology and future readiness.
• Comprehensive Assessment: WDCR offers a holistic evaluation of nations in navigating the digital landscape amidst the surge of artificial intelligence (AI).
• Key Digital Prowess Indicators: Ranking illuminates crucial aspects influencing a nation's digital capabilities in an era where technology shapes global societies.
• U.S. Secures Top Spot: United States regains the leading position, reaffirming its status as a "digital nation" actively incorporating digital technologies like AI across governmental, corporate, and individual sectors.
• Top 5 Countries: Netherlands rises to second place, Singapore excels in technology at third, Denmark slips to fourth, and Switzerland, strong in knowledge, maintains fifth place.
• Asia-Pacific Descent: India drops to 12th among 14 countries in the Asia-Pacific region, a shift from its consistent 11th position in the last four years.
• Global Ranking Change: Among nations with populations exceeding 20 million, India falls to 18th globally, marking a two-position decline from the previous year.
• Cybersecurity Improvements: Positive developments in cybersecurity knowledge, particularly in talent, training, and education. Setback in the sub-factor of scientific concentration.
• Technology Domain Challenges: India secures the 50th spot, facing issues in enforcing contracts, wireless broadband, and internet users. Notable strengths in telecommunications investments and IT and media stock market capitalization.
• Future Readiness Assessment: India ranks 51st, highlighting weaknesses in tablet possession, internet retailing, and E-governance. Strengths noted in the distribution of world robots.
• Top Five Investing Nations: China, Brazil, India, Indonesia, and Vietnam identified by the World Bank as responsible for 75% of the world's total digital infrastructure investment in 2023, capturing an impressive $68.3 billion.