India Slips Four Spots To 56th Position In 2023 World Talent Ranking

The 2023 World Talent Ranking, released by the International Institute for Management Development (IMD) on September 27th, has brought both good news and areas of concern for India. While the nation has shown improvements in infrastructure, it has slipped four spots to the 56th position (Out of 64 economies) compared to its 52nd position in the 2022 ranking.

India’s Infrastructure Improvements

The IMD report acknowledges India’s commendable progress in enhancing its infrastructure. Investments in infrastructure development have been instrumental in improving the country’s business environment and connectivity. However, the report underscores the need for further enhancement in talent competitiveness to sustain this growth.

Praise for India’s Talent Pool

Despite the drop in the overall ranking, India’s talent pool received praise for its agility, tech-savviness, and readiness for the future. According to the report, “Indians are seen as well-prepared for global roles, thanks to their linguistic diversity and international exposure.” This acknowledgment highlights India’s potential for a brighter future.

Factors Considered in the IMD World Talent Ranking

The IMD World Talent Ranking considers various factors, including the quality of life, statutory minimum wage, and primary and secondary education. India performs reasonably well in terms of future readiness, ranking 29th globally. However, the report points out a critical issue: India’s educational system ranks second to last (63rd) in quality. This is primarily attributed to unequal access to education, particularly in rural areas, and insufficient investment.

Global Rankings

In the IMD World Talent Ranking for 2023, Switzerland secured the top position, followed by Luxembourg in second place, and Iceland, Belgium, and the Netherlands rounding out the top five. The United States ranked 15th, China at 41st place, and the UK at 35th. Brazil (63rd) and Mongolia (64th) occupied the bottom two spots.

Here is the information in table format:

Upcoming IMD Reports

The IMD has planned several upcoming reports, including the Hinrich-IMD Sustainable Trade Index in October and the IMD World Digital Competitiveness Ranking in November. These reports will provide further insights into global competitiveness and sustainability.

Find More Ranks and Reports Here