On global Human Capital index,which measures the country’s development and deployment of human capital, India has been placed at 100 where Finland is ranked number 1. In the 124 country’s list India is ranked below its BRICS peers like Brazil,Russia,China and South
Africa. Smaller nations like Srilanka,Bhutan and Bangladesh are placed above India. Pakistan is at number 113 below India.
- World Economic forum or WEF had compile a list of top ten countries in which Finland occupies the top spot followed by Norway,Switzerland,Canada,Japan,Sweden,Denmark,Netherlands, New Zealand and Belgium .
- On the basis of 46 indicators” how well the countries are developing and deploying their human capital,focusing on their education skills and employment”, WEF had prepared the entire list.
- The list also indicated whether the countries are wasting or leveraging the human potential.
- Report said that although education attainment in India had improved its youth literacy rate is only 90%, which is very below compared to other nations .
- Due to large informal sector, India also ranks poorly on labor force participation.
- Countries like France, US,UK, Germany ranks 14th,17th 19th and 22nd respectively.
- Among BRICS nations Russia leads at 26th place followed by China at 64, Brazil at 78 and South Africa at 92.
- According to WEF ,14 countries have reached 80% human capital optimisation while 38 countries got 70 to 80 %.
- 40 countries are in the range of 60 to 70% and 23 countries in 50 to 60% range while 9 countries are below 50%.
- In Asia and Pacific where the population is high the spread between highest and lowest performing nations is widest.
Regarding Human Capital index
It is a measure how well an organisation makes use of ability of an individual to perform and create shareholder value through their knowledge and expertise. It is measured on the scale of 100. Higher the index refers to better management of individuals or human capital by their organisation.
WEF- what it refers to??
- World Economic Forum is Swiss based nonprofit foundation based in Cologny ,Geneva.
- It was founded in 1971.
- Present Executive Chairman isKlaus Schwab.
- Previously it was known as European Management Forum.