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India's rank improves in WEF's ranking for emerging economies, but far behind China

Among the top-five most inclusive emerging economies are Lithuania, Hungary, Azerbaijan, Latvia and Poland.

The Forum's Inclusive Development Index 2018 measures progress of 103 economies towards this goal. The four indicators that make up the index's Growth and Development pillar are: GDP per capita; labour productivity; employment; and healthy life expectancy. The index is prepared keeping in mind the living standards, environmental stability, and protection of future generations. On China, WEF report said that despite rapid growth over the past two decades, China still exhibits high levels of inequality, as evident from its 55th place among emerging economies in the Inclusion pillar of the Index.

Small European economies dominate the index, with Australia (9) the only non-European economy in the top 10. In fact, if we look at the performance of emerging economies in Asia alone, Malaysia actually comes out at the top of table. It is followed by Canada (17), France (18), the United Kingdom (21), the U.S. (23), Japan (24) and Italy (27).

However, India's position lies even below other neighboring countries like Nepal (22), Bangladesh (34) and Sri Lanka (40). Accordingly, the 5 year trend data shows that India has been lagging behind in the indicators of employment, income equality and wealth equality.

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Shrewsberry said companies are "financing whatever their growth needs are through cash flow that they're organically generating". Wall Street is only getting more bullish on the stock , with 15 of analysts who cover WFC having a buy-equivalent rating.

"Economies are prioritizing policies that support short-term growth over inclusion and sustainability, despite concerns about social inequality", concluded the report based on countries' IDI score.

This evidence suggests that GDP growth is a necessary but not sufficient condition for achievement of the broad-based progress in living standards by which most people judge countries' economic success. The report points out that India is performing best in "Intergenerational Equity and Sustainability". It also stated that using GDP as a measure of growth only leads to inequality and short-term realisation of goals. Policy-makers need a new dashboard focused more specifically on this goal.

Davos 2018 will run from January 23 to 26 under the theme of "Creating a Shared Future in a Fractured World" and will be WEF's 48th forum.

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