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India Ranks 59th in World Talent Ranking Report

India has fall down by 6 places to be placed at the 59th rank in the latest edition release of the IMD World Talent Ranking. The list was topped by Switzerland. India’s downgrade was accredited to low quality of life and expenditure on education.

The ranking system is based on the performance of the participating countries in three main categories, namely:

  1. Investment and Development
  2. Appeal
  3. Readiness

The report showed that India very well lags behind its BRICS counterparts as well with China ranked 42nd, Russia at 47th and South Africa at the 50th rank. India also witnessed one of the sharpest declines among Asian economies owing to low quality of life, negative impact of brain drain, and the low priority of its economy on attracting and retaining talents.

Highlights of the Report

  • The decline can be a combination of several factors including expenditure on education per student and the quality of education which is linked to the GDP growth.
  • Effectiveness of the health system and the women’s participation in the labour force are also taken into consideration.
  • Switzerland retained its title as the world’s top talent hub, while Europe leads the way in fostering the best conditions for competitiveness in a skills-scarce global economy. Denmark was placed second and Sweden was in the third place.
  • The countries at the top of the ranking share strong level of investment in education and high quality of life. Most leading economies emphasize long-term talent development by focusing on investment and development.

About World Talent Ranking Report

  • The IMD World Talent Ranking is based on countries’ performance in three main categories — investment and development, appeal and readiness. The three categories assess how countries perform in a wide range of areas. These include education, apprenticeships, workplace training, language skills, cost of living, quality of life, remuneration and tax rates.
  • The prestigious annual IMD World Talent Ranking assesses the methods countries use to attract and retain the talent their businesses need to thrive.
  • The study draws on an in-depth survey of thousands of executives from 63 different economies, and more than two decades’ data from the IMD World Competitiveness Center.

SOURCE: Business Standard

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