IMD: India fell four places to 56th out of 64 economies in the 2023 World Talent Ranking, from 52nd in 2022

India dropped four spots to 56th place out of 64 economies in the 2023 World Talent Ranking from 52nd place in 2022, according to a statement from the International Institute for Management Development (IMD).

Read more: NSO: In July, more over 10 lakh people joined the organised work force

Although the report, which was published on September 27, recognises India's progress in infrastructure, it emphasizes the need for additional growth in talent competitiveness.

The IMD, however, lauded India's talent pool for its flexibility, tech savvy, and future-ready nature. India's linguistic diversity and worldwide exposure are credited with making them well-suited for global responsibilities, according to the survey.

According to Professor Arturo Bries, director of the IMD World Competitiveness Centre, a nation's long-term success depends on its ability to compete for talent and make significant infrastructure expenditures.

The IMD World Talent Ranking takes into account a number of variables, such as lifestyle quality, the legal minimum salary, and elementary and secondary education.

India is ranked 29th in terms of future readiness

India ranks 29th in future readiness, which is a respectable performance. However, the study emphasizes how poorly India's educational system performs, placing it 63rd overall in terms of quality. Inadequate investment and uneven access to education, especially in rural regions, are blamed for this.

As the most important investment a nation can make, Professor Bries continued, increasing investment in education is a simple solution that calls for strong political commitment.

India requires comprehensive policies, such as pay rises and enhancements to quality of life, safety, and environmental friendliness, according to the IMD's assessment, in order to retain talent at home.

Switzerland led the IMD World Talent Ranking 2023, followed by other countries

Switzerland came out on top in the IMD World Talent Ranking 2023, followed by Luxembourg in second, Iceland in third, Belgium in fourth, and the Netherlands in fifth.

The UK is ranked 35th, China is ranked 41st, and the United States is placed 15th. Brazil and Mongolia are ranked 63rd and 64th, respectively.

IMD plans to release the Hinrich-IMD Sustainable Trade Index in October and the IMD World Digital Competitiveness Ranking in November, after prior publications of the IMD World Competitiveness Ranking and the IMD Smart City Index.

OTT India updates you with the latest news, The Country’s no.1 digital news platform OTT India. Keeps you updated with national, and international news from all around the world. For more such updates, download the OTT India app on your Android and IOS device