India ranks 105th out of 130 countries on global Human Capital Index
Human Capital Report 2016, released recently by World Economic Forum (WEF) ranked India at 105th out of the 130 economies measured globally on the basis of countries’ ability to nurture, develop and deploy talent for economic growth.
The report was released by Geneva based World Economic Forum (WEF) in Tianjin, China at its Annual Meeting of New Champions which is also known as 'Summer Davos’ summit'.
Facts revealed from Human Capital Report 2016 :
- India's Neighbouring Countries: Sri Lanka (50th), China (71st), Bhutan (91st), Bangladesh (104th), Nepal (108th) and Pakistan (118th).
- World's top 10 countries : Finland (1st position), Norway (2nd), Switzerland (3rd), Japan (4th), Sweden (5th), New Zealand (6th), Denmark (7th), Netherlands (8th), Canada (9th) and Belgium (10th). Finland, Norway and Switzerland hold the top three positions as they utilises around 85% of their human capital.
- Among BRICS countries : India has ranked the lowest among five major emerging national economies as against Russia (28th), China (71st), Brazil (83rd) and South Africa (8th). Last year, India had ranked 100th out of total 124 countries.
Positive Indicators :
- On positive side, India has got better rankings on quality of education system (39th), staff training (46th) and ease of finding skilled employees (45th) indicators.
- India had the largest share in the "global distribution of tertiary degree holders" at nearly 78 million while it was second largest after China on global distribution of recent graduates in STEM subjects (science, technology , engineering and mathematics) at about 2.5 million.
Matter of concern: Although the country's educational attainment has improved markedly over the different age groups, its youth literacy rate is still only 90% (103rd in the world). India also ranks poorly on labour force participation, due in part to one of the world's largest employment gender gaps (121st).
Human Capital Index
Every year, the World Economic Forum publishes the Human Capital Report, which easures the Human Capital Index of various economies in the world on the basis of 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.