Global Talent Competitiveness Index (GTCI), 2023

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Global Talent Competitiveness Index (GTCI), 2023 Blog Image

Overview:

The Global Talent Competitiveness Index has seen India fall sharply from rank 83 ten years ago to rank 103 in its latest report out recently.

About Global Talent Competitiveness Index (GTCI)

  • It measures how countries grow, attract, and retain talent.
  • It is an annual benchmarking report published by the prestigious chain of business schools, INSEAD.
  • It provides a unique resource for decision-makers to understand the global talent competitiveness picture and develop strategies to boost their economies.
  • The index uses two sub-indices: input and output.
    • The input measures regulatory and business environments, as well as steps being taken to foster talent and retain it.
    • The output side evaluates the quality of talent.
  • Highlights of GTCI 2023:
    • The 10th edition of the report covers 134 countries around the world across all income groups.
    • Singapore, Switzerland, and the United States are among the top three countries on the index.
    • Denmark, the Netherlands, Finland, Norway, Australia, Sweden, and the United Kingdom make up the rest of the Top 10.
    • India is ranked 103, the worst among that of the BRICS countries. China remains at the top of the BRICS group of countries at rank 40, Russia is at 52, South Africa is at 68 and Brazil is ranked at 69.
    • Other countries ranking better than India are Rwanda, Paraguay, Tunisia, Namibia, Bolivia, Ghana, El Salvador, Gambia, Kenya, Morocco, and Eswatini.
    • As per the report, other emerging countries have shown improvements on this index, with China, Indonesia, and Mexico being cited for special mention.

Q1) What is BRICS Grouping?

BRICS is an acronym for Brazil, Russia, India, China, and South Africa. The term was initially created as BRIC (without South Africa) by Goldman Sachs economist Jim O'Neill in 2001.The BRICS countries operate as an organization that seeks to further economic cooperation amongst member nations and increase their economic and political standing in the world.

Source: India Slides Sharply on Global Talent Competitiveness Index, Worst Among the BRICS Group