India Rises 3 Places to 51 on IMD World Talent Rankings
- India improved position in IMD World Talent Rankings and got placed three places up at 51st Position.
- According to the report, India lags behind in the areas of talent retention and education investment.
India has moved up by three places to 51st rank globally in terms of ability to attract, develop and retain talent according to the IMD World Talent Rankings. Switzerland was placed on the top by the leading global business school IMD.
A total of 63 countries were covered in the IMD World Talent Rankings. These countries were assessed on the basis of their methods to attract and retain talent. European countries performed well and dominate the list.
Top 10 Countries in IMD World Talent Rankings:
- Switzerland
- Denmark
- Belgium
- Austria
- Finland
- Netherlands
- Norway
- Germany
- Sweden
- Luxembourg
According to the IMD report, outstanding education systems in Europe was what made them stand out from the rest of the lot. These countries were efficiently able to attract highly- skilled, foreign professionals and rely on them for business.
The countries were ranked on the basis of their investment in the education sector, appeal and readiness. India received second last rank in the education investment parameter.
Rank of India in IMD World Talent Rankings:
Parameter of IMD Ranking | Global Rank of India |
Investment | 62 |
Appeal | 43 |
Readiness | 29 |
Head of Competitiveness at IMD Switzerland, Arturo Bris, said that India is not doing very well in the local talent retention domain. Bris added that domestic employment is deterrent in terms of remuneration levels, security, quality of life and property rights.
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Another reason for the poor rankings in the talent list is the negligible investment in the industry. India’s education investment in terms of the entire GDP is very low, consequently, India has been ranked amongst the last five countries in this parameter. Brain drain and education investment are the two things that India needs to work on, Bris added.
BRICS Nation IMD World Talent Rankings:
Name of the Country | IMD World Talent Rankings |
China | 40 |
Russia | 43 |
South Africa | 48 |
India | 51 |
Brazil | 52 |
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In Asia, some of the leading economies and education hubs are Singapore, Taiwan and Hong Kong. Chief Economist at IMD Switzerland, Christos Cabolis, said that India has the potential to perform well in the age of the digital economy. Cabolis added that the availability of necessary local talent, finance skills and knowledgeable managers are some of India’s strengths.