Important Facts For Prelims
IMD World Talent Ranking
- 19 Nov 2019
- 2 min read
Why in News
According to the latest IMD World Talent Ranking- 2019, India has slipped 6 places from 53rd in 2018 to 59th rank this year on a global annual list of 63 countries.
- International Institute for Management Development (IMD) is a business education school based in Switzerland.
Key Findings
- Switzerland retained its title as the world's top talent hub and topped the ranking, followed by Denmark (2nd) and Sweden (3rd).
- Most leading economies emphasized long-term talent development by focusing on investment and development.
- Parameters: The ranking is based on the performance in three main categories: Investment and development, appeal, and readiness.
- The Investment and Development factor measures the resources committed to cultivate home grown human capital. The Appeal factor evaluates the extent to which a country attracts local and foreign talent. And, the Readiness factor quantifies the quality of the skills and competencies that are available in a country.
- India’s Status:
- India witnessed one of the sharpest declines among Asian economies.
- India also lagged behind fellow BRICS countries- China ranked 42nd on the list, Russia (47th) and South Africa (50th). However, Brazil was ranked at 61st place behind India.
- The reasons for the decline in India’s ranking are:
- Low quality of life.
- Negative impact of brain drain.
- Low priority on attracting and retaining talents due to declining expenditure on education (per student) and the quality of education which may be linked to the GDP growth.
- Other factors include- effectiveness of the health system and women's participation in the labour force.
