From UPSC perspective, the following things are important :
Prelims level : About the ranking
Mains level : HRD in India
India has slipped 6 places to 59th rank on a global annual list of 63 countries, according to the latest edition of IMD World Talent Ranking, which was topped by Switzerland.
IMD World Talent Ranking
- The ranking is based on the performance in three main categories — investment and development, appeal and readiness.
- Switzerland retained its title as the world’s top talent hub, while Europe lead the way in fostering the best conditions for competitiveness in a skills-scarce global economy.
- Denmark was placed second and Sweden, was in the third place.
- The Top 10 was completed by Austria (4th), Luxembourg (5th), Norway (6th), Iceland (7th), Finland (8th), the Netherlands (9th) and Singapore (10th).
- The countries at the top of the rankings share strong levels of investment in education and a high quality of life.
India’s low performance
- India ranked low due to low quality of life and expenditure on education.
- India is also lagging behind fellow BRICs countries – China ranked 42nd on the list, Russia (47th) and South Africa (50th).
- India also witnessed one of the sharpest declines among Asian economies owing to low quality of life, negative impact of brain drain, and the low priority of its economy on attracting and retaining talents.
Other Asian neighbours
- Meanwhile, China ranked in the lower half of the index. China (42nd) fell 3 places due to low ranking on government expenditure per student, cost of living index and exposure to particle pollution.
- In Asia, Singapore, along with Hong Kong SAR (15th) and Taiwan (20th) lead in terms of talent competitiveness due to the readiness of talent pool.
- Singapore rose from 13th to 10th position compared to last year, Hong Kong SAR from 18th to 15th, and Taiwan from 27th to 20th.