India jumped an impressive 16 spots to 39th place on a global index of the most competitive economies as rated by the World Economic Forum. This marks the second straight year that India’s competitiveness rose 16 places.

The report said that India’s improvement was “the largest this year” as it passed Indonesia (41st) and the Philippines (57th), with the two dropping four and 10 places, respectively.

The Geneva-based forum in its latest Global Competitiveness Index of 138 countries, which assesses based upon variables such as infrastructure, institutions, macroeconomics as well as health and primary education.

The report also factors in a survey among business leaders assessing government’s’ efficiency and transparency.

Switzerland topped the charts for the eighth consecutive year, with Singapore in second.

In terms of Asian countries, Japan secured the eighth position as compared with sixth last year. Hong Kong ranked 9th, Taipei 14th, Malaysia 25th and South Korea 26th.

Competitive Index Top 25

You can view the complete rankings here.