Global Talent Competitiveness Index 2023: India’s Significant Decline

Understanding GTCI:

• The Global Talent Competitiveness Index (GTCI) serves as an annual yardstick assessing how nations nurture, draw, and retain talent. This comprehensive report, curated by the esteemed INSEAD business school chain, equips policymakers with insights to enhance their economies.

The Index Mechanics:

• GTCI operates through two pivotal sub-indices: input and output. The input segment gauges regulatory and business climates, coupled with efforts to cultivate and retain talent. On the other hand, the output element assesses the caliber of available talent.

Key Insights:

• In its 10th edition, GTCI spans 134 countries, encompassing various income brackets. Notably, Singapore, Switzerland, and the United States clinch the top spots, with Denmark, the Netherlands, Finland, Norway, Australia, Sweden, and the United Kingdom rounding off the elite Top 10.

India’s Struggle:

• India grapples with a stark decline, plummeting from 83rd to 103rd place over the past decade. Of significance, this positions India as the lowest-ranked among the BRICS nations. Within the BRICS group, China leads at 40th place, followed by Russia at 52, South Africa at 68, and Brazil at 69.

Noteworthy Performances:

• Amidst India’s setback, several nations, including Rwanda, Paraguay, Tunisia, Namibia, Bolivia, Ghana, El Salvador, Gambia, Kenya, Morocco, and Eswatini, outperform the country in talent competitiveness. Meanwhile, the report highlights positive strides made by emerging economies like China, Indonesia, and Mexico.

Conclusion:

• India’s slide in talent competitiveness on the global stage raises critical concerns. With other nations making notable advancements, India faces a pressing need to reassess its strategies to attract, foster, and retain talent for sustained economic growth and competitiveness.