India was ranked 59th among 63 countries in the 2019 IMD World Talent Ranking released by International Institute for Management Development. This year, India slipped by 6 places as compared to 53rd rank in 2018 edition of this global annual list. India’s poor performance was on account of low quality of life and expenditure on education.
- It is released annually by International Institute for Management Development (IMD), Switzerland based business school. It assesses the status and the development of competencies necessary for enterprises and the economy to achieve long term value creation.
- The ranking of countries is based on the performance in three main categories– investment & development, appeal and readiness. These 3 categories assess how countries perform in wide range of areas such as cost of living, quality of life, education, language skills, apprenticeships, workplace training, remuneration and tax rates.
- Switzerland (1st), Denmark (2nd), Sweden (3rd), Austria (4th), Luxembourg (5th), Norway (6th), Iceland (7th), Finland (8th), the Netherlands (9th) and Singapore (10th). These top countries share strong levels of investment in education and a high quality of life. Moreover, Europe leads way in fostering best conditions for competitiveness in a skills-scarce global economy.
- India also witnessed one of harpest 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.