Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
IMD World Talent Ranking- 2019
What to study?
For Prelims: Key findings.
For Mains: Significance and concerns highlighted by the report.
Context: The 2019 World Talent Ranking has been released.
- It is released by the International Institute for Management Development (IMD). IMD is a business education school based in Switzerland.
- The ranking is based on the performance in three main categories — investment and development, appeal and readiness.
Performance of countries:
- The top of the table is still led by European small and mid-size economies. These countries all share high levels of investments in education and a superior quality of life.
- Switzerland in the first and Denmark in the second position firmly lead the ranking for the seventh year in a row, followed by Sweden, Austria and Luxembourg.
Performance of India:
- India has slipped 6 places to 59 rank.
- This is 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.
- The drop is a combination of several factors including expenditure on education (per student) and the quality of education which may be linked to the GDP growth.
- There are other issues such as the effectiveness of the health system and women’s participation in the labour force.
Sources: the Hindu.