India's ranking declined by three places to 59th position in the Global Competitiveness Index 2012-2013 of the World Economic Forum, WEF, owing to disappointing performance in the basic factors underpinning competitiveness.The country, which was once ahead of Brazil and South Africa, now trails them by some 10 places and lags behind China by a margin of 30 positions.The global list was topped by Switzerland for the fourth consecutive year, followed by Singapore in second position and Finland in third position. The report noted that India's infrastructure is largely insufficient and ill-adapted to the needs of the economy.Moreover the country also faces problem areas such as corruption and bureaucracy.WEF however, said that despite challenges, India does possess a number of strengths in the more advanced and complex drivers of competitiveness.It said, India can rely on a fairly well developed and sophisticated financial market that can channel financial resources to good use, and it boasts reasonably sophisticated and innovative businesses. The report said, only 34 per cent of the country's population has access to sanitation.Besides, high unemployment rate coupled with weak official social safety nets makes the country vulnerable to economic shocks.Meanwhile, other emerging markets, such as developing Asia, will continue to show robust growth rates, while the Middle East and North Africa as well as sub-Saharan African countries are gaining momentum, the report said.