A Study on the Impact of Technological Readiness on Global Competitiveness Index

In the globalized world, technological advancement is the primary need to compete with others to sustain in the market and making the nation pride to march towards the betterment. Now when we look into technological innovation, ICT is playing a major role which penetrated in almost all the industrial sectors and leading to better results. The countries competency is also identified based on its Global competitiveness index. Global competitiveness index is calculated based on twelve parameters categorized under three headings namely Business Requirements, Efficiency Requirements and Innovation and sophistication factors. As both technological readiness and the Global competitiveness index are helping to evaluate the status of countries, there should be some relationship between these two. Five years data on the technological readiness and the competitiveness index is taken for the study. Random samples are taken from the countries showing improvement, countries with declining results, and countries which exists at the same level are taken and the analysis is done. It is found that there is a strong positive correlation between Global competitiveness ranking and Technical readiness ranking.