Human Capital Current Affairs
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India was ranked low at 105th position out of 130 countries globally on the 2016 Human Capital Index (HCI), which was recently released in the World Economic Forum (WEF) report.
The report was released by Geneva-WEF in the Chinese city of Tianjin at its Annual Meeting of New Champions which is also known as `Summer Davos’ summit.
- Top 10 Countries in 2016 HCI: Finland (1st position), Norway (2nd), Switzerland (3rd), Japan (4th), Sweden (5th), New Zealand (6th), Denmark (7th), Netherlands (8th), Canada (9th) and Belgium (10th).
- India’s Neighbours: Sri Lanka (50th), China (71st), Bhutan (91st), Bangladesh (104th), Nepal (108th) and Pakistan (118th).
- Among BRICS countries: India is ranked lowest as against Russia (28th), China (71st), Brazil (83rd) and South Africa (8th).
- In the 2015 edition of HCI, India had ranked 100th out of total 124 countries.
- India related: India has got better rankings HCI’s indicators such as quality of education system (39th), staff training (46th) and ease of finding skilled employees (45th).
- India is the second largest country in the global distribution of tertiary degree holders share at nearly 78 million after China (2.5 million) in STEM subjects (science, technology , engineering and mathematics).
- India’s concern: India has optimised just 57% of its human capital endowment. Its youth literacy rate is still only 90% (103rd in the world).
- In case of labour force participation, India ranks low as it has world’s largest employment gender gaps (121st).
About Human Capital Index
- The Human Capital Index measures countries’ ability to nurture, develop and deploy talent for economic growth.
- It is based on 46 indicators about how well countries are developing and deploying their human capital, focusing on education, skills and employment.
- The WEF report of HCI presents an analysis by focusing on a number of key issues that can support better design of education policy and future workforce planning.
India has ranked 89th globally in Global Talent Competitiveness Index (GTCI) 2015-16 list of 106 assessed countries in terms of talent competitiveness of its human capital.
This GTCI list was compiled by INSEAD business school in partnership with Adecco and Human Capital Leadership Institute of Singapore (HCLI). This index measures a nation’s competitiveness based on the quality of talent it can produce, attract and retain.
- In this edition of list top 20 scoring countries are all high-income countries. The top rankings were dominated by European countries.
- Top 10 in GTCI list: Switzerland (1st), Singapore (2nd), Luxembourg (3rd), United States (4th), Denmark (5th),Sweden (6th),United Kingdom (7th), Norway (8th),
- Canada (9th) and Finland (10th).
- Bottom 5 countries: Mali (105th), Tanzania (106th), Ethiopia (107th), Burkina Faso (108th) and Madagascar (109th).
- India’s scenario: It has slipped by 11 positions in this edition of list compared to previous rank of 78 in 2014-15 edition of list.
- Lower position indicates acute shortage of skilled workforce. It also ranks at last among BRICS members.