India has ranked 51st out of 63 countries on IMD World Talent Ranking 2017. This marks an improvement of three spots as compared to previous year’s rank.
About IMD World Talent Ranking:
- IMD World Talent Ranking assesses the methods adopted by countries to attract and retain talent.
- It is compiled by leading global business school, IMD.
- Rankings of countries are based on performance on various parameters including education, workplace training, apprenticeships, language skills, quality of life, remuneration, tax rates and cost of living.
- These parameters are place under three broad categories viz. investment and development, appeal, and readiness.
- 2017 ranking is the fourth edition of IMD World Talent Ranking.
Highlights of IMD World Talent Ranking 2017:
- India’s overall rank is 51st whereas on three broad categories viz. investment and development, appeal and readiness it has ranked 62nd, 43rd and 29th respectively.
- Arturo Bris, Head of Competitiveness, IMD Switzerland stated that India is not performing well in retaining local talent and attracting foreign labour.
- Remuneration levels, quality of life, security and property rights are the primary deterrent to domestic employment in India.
- India is much behind other economies in terms of investment in education. In fact, it ranks among the bottom five countries in terms of investment in education as a percentage of Gross Domestic Product (GDP).
- It has been outlined that India needs to focus on its education system as a key to prosperity and should take steps to prevent brain drain by providing better opportunities to local talent.
- Among BRICS nations, China ranked 40th followed by Russia at 43rd and South Africa at 48th. Brazil ranked just after India at the 52nd spot.
- Globally, Europe continues to dominate the rankings, with Switzerland, Denmark, and Belgium occupying the top three spots.
IMD World Talent Ranking 2017 – Top 10: