In recent developments as reported by the International Institute for Management Development (IMD), India’s standing in the World Talent Ranking 2019 has descended to the 59th position. This marks a significant drop from its previous rank of 53rd place in 2018 among the annual global list of 63 countries. IMD is an esteemed business education establishment based in Switzerland.
Leaderboard Host: Switzerland
Switzerland held on to its crown as the premiere global talent hub, followed closely by Denmark taking second place and Sweden making it to third. The prominent economies leading the board underline the importance of long-term talent development, with investment and development being their primary focus.
Criteria for Assessment
The World Talent Ranking is assessed based on performance in three main categories. These include Investment and Development, Appeal, and Readiness. The Investment and Development category gauges the amount of resources devoted to nurturing domestic human capital. On the other hand, the Appeal factor quantifies how much a country draws local and foreign talent. Lastly, the Readiness factor measures the quality and availability of skills and competencies in a country.
Where India Stands
India experienced one of the most drastic declines among Asian economies. The nation also fell short in comparison to fellow BRICS countries. China secured the 42nd spot on the list, followed by Russia at 47th and South Africa at 50th position. However, Brazil trailed behind India, sitting at the 61st position.
| Country | Rank |
|---|---|
| China | 42 |
| Russia | 47 |
| South Africa | 50 |
| India | 59 |
| Brazil | 61 |
Reasons Behind India’s Downfall
There are several factors behind the decline in India’s ranking. These include a lower quality of life, the adverse effects of brain drain, and a reduced focus on attracting and retaining talents. This last factor is due to a decrease in expenditure on education per student and the ensuing decline in education quality, possibly linked to GDP growth. Additional factors such as the effectiveness of the health system and women’s participation in the labor force also played a part in India’s slip in the rankings.
Last Modified: February 6, 2024