Recently, the Global Talent Competitiveness Index has been released. In this, Switzerland has been ranked first and Singapore and United States respectively, second and third place respectively. This index is dominated by European countries because 15 of the top 25 countries have been received by European countries.
The World Talent Competitiveness Index has been developed in conjunction with INSEAD, ADC group and Tata Communications. Indeed, the talent competitiveness index is an indication of how a country is successful in finding the escape of talent.
Relative comparison of India's BRICS countries in the World Talent Competitive Index:
India has been ranked 81st in the list of World Talent Competitive Index, 2018, while India was ranked 92nd in last year's index. Thus, India has improved 11 points in its position, but the position of India relative to BRICS countries is still weak.
- China has been ranked 43rd in the global talent competitiveness index, while Russia has been ranked 53rd.
- Similarly, in this index 63rd of South Africa and Brazil ranked 73rd.
- Thus, it is clear from above mentioned that India is in a weak position compared to BRICS countries in relation to the development of talent, keeping them in the country and preventing the exodus of talent.
- Implications of India's position in the World Talent Competitiveness Index:
India's position is very weak in the global talent competitiveness index. The following implications of this situation are:
- India has to take important steps to develop talent, attract and stop the brain drain. It will have to provide quality education as well as professional skills.
- A dynamical regulatory and business environment will have to be created.
- Such employment policies have to be dynamically related and related to social security.
Conclusion:
It can be concluded that India's position in the global talent competitiveness index is very weak. There is a need to work on the above mentioned measures to improve this situation.
