India way behind Botswana, Namibia!

India is way down in the World Economic Forum's Global Competitiveness Index, ranked at number 55 in a list of 104 nations.

If it is any consolation, India moved one place up from last year's rank of 56. (Click here to see entire list)

Finland remains the most competitive economy in the world and tops the rankings for the second consecutive year in The Global Competitiveness Report 2004-2005, released on Wednesday by the WEF in Geneva. The 5 biggest problems for doing business India and the World Economic Forum: Complete Coverage

The United States is in second position, followed by Sweden, Taiwan, Denmark and Norway, consecutively.

Pigeons take flight into the blue sky along Marine Drive with the Mumbai skyline as a backdrop. Photo: Rob Elliott/AFP/Getty Images

Also see: The 5 biggest problems for doing biz