India has been ranked 81st on the annual global index of talent competitiveness, which was released on the first day of the 48th World Economic Forum (WEF) annual meeting in Davos, Switzerland.
While Switzerland continues to top the list, India has improved its position from 92nd last year. In 2016, India was placed at the 89th rank. The index measures how countries grow, attract and retain talent.
• Though India has improved its position on the list, it still lags behind the other BRICS nations.
• While India was ranked the lowest in the group, China faired the best with 43rd rank, followed by Russia at 53rd, South Africa at 63rd and Brazil at 73rd position.
• India's ranking was the worst among the five BRICS countries in 2017 as well, China, on the other hand, was still ahead with 54th rank, followed by Russia at the 56th position, South Africa at 67 and Brazil at 81.
• All the nations have though bettered their positions on the global index from 2017.
• Among the top countries on the index this year, Switzerland is followed by Singapore and then the United States of America.
• The top ranks were mostly dominated by European countries, with 15 of them featuring in the top 25 spots.
According to the study released by Adecco, Insead and Tata Communications, the developed, high-income countries are still the global talent champions while Zurich, Stockholm and Oslo take the top spots in the cities' ranking.
India is at serious risk of worsening its brain drain due to its less successful attempts at retaining or luring back its talented Diaspora members.
Following are some of the points that the countries are measured on:
• The ability to realise the importance of leveraging diversity as a resource and do so effectively.
• The ability to being especially sensitive to cognitive diversity, which includes retaining the talent it grows and also welcoming outside talent.
• The ability to engineer diversity, ensuring that the distinct ethnic groups live together harmoniously.
About Global Talent Competitiveness Index
• It is an annual index created in partnership with Adecco, Insead and Tata Communications.
• The index is an annual report that measures the ability of countries to compete for talent.
• It aims to give governments and businesses the distilled data from 119 countries, which will assist the decision makers in developing strategies and talent policies that will help boost their talent competitiveness.
Global City Talent Competitiveness Index (GCTCI)
• The GTCI includes a ranking of talent competitiveness in cities, which is called the GCTCI.
• While Zurich in Switzerland tops the list, Sweden’s capital Stockholm and Norway’s Oslo take up the second and third positions respectively.
• The top 10 spots in the GCTCI are dominated by European cities.
• The two American cities to feature in the list include capital Washington DC and San Francisco at 6th and 8th positions respectively.