Human Capital Index Current Affairs
India ranked low 103rd out of 130 countries surveyed on World Economic Forum’s (WEF) Global Human Capital Index (GHCI) 2017. In the previous edition, India ranked 105th.
The GHCI measures countries’ ability to nurture, develop and deploy talent for economic growth against four key areas of human capital development; Capacity (determined by past investment in formal education), Deployment (accumulation of skills through work), Development (reskilling and continued upskilling of existing workers) and know-how (specialised skills-use at work).
Key Highlights of 2017 GHCI
Top 10 countries: Norway (1st), Finland (2nd), Switzerland (3rd), United States (4th), Denmark (5th), Germany (6th), New Zealand (7th), Sweden (8th), Slovenia (9th) and Austria (10th).
Among BRICS: India is ranked lower than its BRICS peers. Russia (16th), China (34th), Brazil (77th) and South Africa (87th).
Among South Asian countries: India was ranked lower than Sri Lanka (70) and Nepal (98). But it ranked higher than neighbouring Bangladesh (111) and Pakistan (125).
India related Facts: In terms of development of skills needed for the future India ranks 65th. However, India ranks lower because of number of factors. It ranks lowest (last) in world when it comes to employment gender gap. It also ranks low 110th in educational attainment (primary education attainment among 25 -54 year olds) and low deployment of its human capital, meaning the skills available are not getting put to good use. India ranks 118 for labour force participation among the key 35-54 year old demographic, means that too many Indians are engaged in informal or subsistent employment.
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.