India advances three spots to 51 on IMD World Talent Ranking

In the World Talent Ranking 2017 released by IMD on Tuesday, India jumped three places to secure the 51st spot globally in terms of ability to attract, develop and retain talent.

As per statistics of the report, it was noted that India moved from 54 last year to 51 in 2017, thus continuing the upward trajectory in a comparison of the three factors- appeal, readiness and investment and development.

However, a segment-wise analysis of the three factors noted that each of the aforementioned factors showed a decline in the context of the Indian economy. In the category of investment and development, India's ranking declined from 60 to 62; in terms of appeal, it declined from 41 to 43; and in terms of readiness, India's ranking went down from 28 to 29.

Meanwhile, Europe continues to dominate the 2017 list, with 11 out of the 15 most talent competitive economies based on the continent, after a strong performance in 2016. Switzerland, Denmark and Belgium remain the most competitive countries in the rankings, while Austria, Finland, the Netherlands, Norway, Germany, Sweden and Luxembourg made it to the top-ten.

Among the Asian economies, Singapore, Hong Kong and Taiwan strengthened their global status as hubs of attracting and retaining highly-skilled workers, although they continue to lag behind Europe in this context.

On a related note, The IMD World Talent Ranking is based on countries' performance in three main categories - investment and development, appeal and readiness. The three categories assess how countries perform in a wide range of areas. These include education, apprenticeships, workplace training, language skills, cost of living, quality of life, remuneration and tax rates.