Global Talent Competitiveness Index

• 25 Jan 2020

Why in News

India has moved up eight places to the 72^nd position in the Global Talent Competitiveness Index (GTCI) 2020.

• Switzerland topped the list of 132 nations, followed by the US and Singapore.

Rank	Country	Score
1	Switzerland	81.23
2	US	79.09
3	Singapore	78.48
4	Sweden	75.82
5	Denmark	75.18
6	Netherlands	74.99
7	Finland	74.47
8	Luxembourg	73.94
9	Norway	72.91
10	Australia	72.53
72	India	40.42

Key Points

• It was started in 2013 and is an annual benchmarking report that measures the ability of countries to compete for talent, their ability to grow, attract and retain talent.
• Theme for 2020 was ‘Global Talent in the Age of Artificial Intelligence’. It explores how the development of artificial intelligence (AI) is not only changing the nature of work but also forcing a re-evaluation of workplace practices, corporate structures and innovation ecosystems.
• Inequality: The report noted that the gap between high income, talent-rich nations and the rest of the world is widening. More than half of the population in the developing world lack basic digital skills.
• About GTCI Report: It is launched by INSEAD, a partner and sponsor of the United Nation's Sustainable Development Goals (SDGs) Davos, Switzerland recently.
  
  • INSEAD is one of the world's leading and largest graduate business schools with locations all over the world and alliances with top institutions.
  • The six metrics used to decide a country's rank are - enable, attract, grow, retain, vocational skills and global knowledge skills.

India

• The report stated that India's GTCI score and GDP per capita are both lower than the other emerging market economies such as BRICS - Brazil (80^th), Russia (48^th), China (42^nd), and South Africa (70^th).
• India's key strength relates to growing talent, due to its levels of lifelong learning and access to growth. However, more could be done to improve India’s educational system.
• The country's highest-ranked sub-pillar is employability but the ability to match labour market demand and supply stands in contrast to the country's poor "mid-level skills", which result in a mediocre score in vocational and technical skills.
• India faces the challenge of attracting and retaining talent and the weak ability to overcome it. India has to strengthen the role of minorities and women to raise the level of internal openness in the country which would make it more appealing.