India has slipped 10 places to the 68th position in the World Economic Forum's Global Competitiveness Index - this despite a relatively stable micro-economic environment and deep financial sector. One significant reason behind the slump can be attributed to the improvement witnessed by several other economies. India is also one of the worst performing BRICS nation, faring slightly better than Brazil. Singapore, meanwhile has replaced the United States of America to take the numero uno position. This year's report however finds the global economy unprepared for a major slowdown. CNBC-TV18 spoke to Thierry Geiger Head - Benchmarking Practice at WEF.