Main Findings of the Global Talent Competitiveness Index 2023
The main findings of the Global Talent Competitiveness Index 2023 are mentioned below:
- The government frequently uses ratings on specific business indices, “Ease of Doing Business,” and even the controversial World Bank-led “Doing Business” scores to support its position, which is a sharp decline that is cause for concern in India. The World Bank’s “Doing Business” report was withdrawn because of inconsistencies in the way it was calculated.
- Among the BRICS nations, India has the lowest ranking in the Global Talent Competitiveness Index (GTCI).
- With a ranking of 40, China continues to lead the BRICS group of nations, followed by Russia at 52, South Africa at 68, and Brazil at 69.
- India, at 103rd place, continues to be the lowest-ranked BRICS member, according to the report (page 36). India’s talent competitiveness increased in the years leading up to 2020, but in the three years after, it has declined. This decline in business sentiment is a major factor in the GTCI rankings, as it has negatively impacted the ability to “Attract talent” (now ranked 132nd of 134), whether that talent is domestically (129th in Internal Openness) or internationally (127th in External Openness sub-pillar).
- According to the findings, there is a growing skills gap and a shortage of competent workers, which has caused India to rank 121st in terms of both the “Vocational and Technical Skills” pillar and the “Employability” sub pillar.
- According to the study, India is leading the world in Global Knowledge Skills, the second of the output-related pillars, with software development and innovation pushing the country to the 69th rank in the Talent Impact sub-pillar.
- Other developing nations have improved on this score, according to the study; Mexico, China, and Indonesia stand out in particular. Among the top performers over the previous ten years are a few of the biggest emerging economies.
- China has become a talent champion; Indonesia is among the nations that have made the biggest progress in talent competitiveness in the last ten years. Mexico has transformed from a talent laggard to a talent mover. Brazil has advanced to the point where it may soon be classified as a talent mover.
- The three countries that rank highest on the scale are the US, Singapore, and Switzerland. The Top 25 rankings are still dominated by European nations. South Korea has jumped up to replace Japan, which has left the top 25 for the first time.
Global Talent Competitiveness Index 2023
The Global Talent Competitiveness Index is an annual benchmark report. It aims to compare the relationship between talent and competitiveness. This index was originally introduced in 2013. The report is released by the prestigious chain of business schools INSEAD. In association with the Descartes Institute for the Future and the Human Capital Leadership Institute, INSEAD has issued the 2023 study, which ranks 134 nations according to their ability to develop, bring in, and retain talent. India dropped considerably from number 83 in the Global Talent Competitiveness Index ten years ago to 103 in the most recent study released in the year 2023.
In this article, we will look into the Global Talent Competitiveness Index 2023, India’s ranking in the Global Talent Competitiveness Index 2023, and its main findings in detail.
Table of Content
- Global Talent Competitiveness Index
- Global Talent Competitiveness Index 2023
- India’s Ranking in the Global Talent Competitiveness Index 2023
- Global Talent Competitiveness Index (GTCI) Country Rankings 2023
- Main Findings of the Global Talent Competitiveness Index 2023
- Global Talent Competitiveness Index UPSC