GCI, WEF - Current Affairs Questions and Answers

ANSWER: San Francisco

Explanation:
World Economic Forum has established a new centre in San Francisco to connect tech companies and policy makers in the heart of the tech industry of the world

• WEF has organised its annual Davos meeting of global leaders and also opened toe new centre to focus on policy issues, develop new technologies such as AI, drones, IoT, digital currencies and more
• Office is named the Centre for the Fourth Industrial Revolution
• This is in light of the recent Davos gathering in January which promotes collaboration between industry stakeholders
• The plan is also to develop existing forum projects such as the security of connected devices, digital trade, and use of technologies to manage the oceans of the world
• It plans on collaboration to use existing Forum projects such as the security of connected devices, digital trade and use of new technologies to manage the oceans of the world
• The European Commission is in the planning stages of regulations to better secure Internet connected devices, amidst a wider overhaul of communications and digital policy aimed to enhance the regulatory environment to new technologies
• World Economic Forum is a Swiss non-profit foundation based in Cologny, Geneva
• The forum was founded in 1971 by Klaus Schwab, a German born professor at the University of Geneva
• First named the European Management Forum, it changed its name to the World Economic Forum in 1987
• It has aimed to broaden its vision to include a platform for resolving international conflicts
• Recognised by the Swiss authorities as an international institution for public-private cooperation, the mission aims at improving the state of the world by engaging political, business, academic and other leaders to shape global, regional and industry agendas
• The forum is best known for annual winter meetings in mountain resort Davos at the Alps region of Switzerland

ANSWER: All of the above

Explanation:

• 12 pillars underlying GCI include

1. Institutions,
2. Infrastructure,
3. Macroeconomic environment,
4. health and primary education,
5. higher education and training,
6. goods market efficiency,
7. labour market efficiency,
8. financial market development,
9. technological readiness,
10. market size,
11. business sophistication and
12. innovation
• India’s competitiveness has improved this year across the board, in particular in goods market efficiency, business sophistication and innovation.
• The macroeconomic environment also improved due to better monetary and fiscal policies and lower oil prices.

ANSWER: 12

Explanation:

• The Global Competitiveness Index released by the World Economic Forum is one of the major studies which indicates how a country scores in the scale of global competitiveness.
• The Index is calculated by aggregating indicators across 12 pillars which again are clubbed together in three broad sub-indices, namely basic requirements, efficiency enhancers and innovation and sophistication factors.
• The report covers both business and social indicators which, directly or indirectly, impacts the competitiveness of the country in the global arena.