24/11/2017 417 Social Issues | Education | View Recent Current Affairs
- India was ranked at the 51st spot among 63 countries on the IMD Talent Rankings in terms of ability to attract, develop and retain talent. In the previous rankings, India was ranked at the 54th spot.
- However, according to the rank list by IMD, it ranked among the bottom five countries in the world in terms of investment in education as a percentage of GDP.
Highlights of the ranking:
- The outstanding education systems in Europe sets them apart from the rest of the pack. This allows them to develop local talent and at the same time attract foreign, highly- skilled professionals, which many European businesses rely upon to perform.
- In the ranking, Switzerland has topped the list, closely followed by Denmark, Belgium, Austria, Finland, Netherlands, Norway, Germany, Sweden and Luxembourg in top 10 while India was at 51
- India was ranked 62nd (on investment and development), 43rd (appeal) and 29th (readiness) in the three main categories
- The rankings are based on a country's performance in three main categories -- investment and development, appeal, and readiness which assess how countries perform in a wide range of areas which include education, apprenticeships, workplace training, language skills, cost of living, quality of life, remuneration and tax rates
- Globally, Europe continues to dominate rankings being most competitive countries and leading Asian economies in rankings are Singapore, Hong Kong and Taiwan. They have cemented their global status as hubs of attracting and retaining highly-skilled workers though they trail Europe in this regard.
- Many of our neighbours have fared far better on the World Talent Ranking. Republic of Korea ranked 39 followed by China, and Thailand came in at the 42nd place. Philippines, which jumped up 10 ranks, has overtaken India too. In the BRICS bloc, only Brazil trailed India and by one rank only
- World Talent Ranking covers 63 countries and assesses the methods countries use to attract and retain the talent their businesses need to thrive.
- The IMD World Talent Ranking is based on countries’ performance in three main categories – investment and development, appeal and readiness. The three categories assess how countries perform in a wide range of areas. These include education, apprenticeships, workplace training, language skills, cost of living, quality of life, remuneration and tax rates.