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13 September 2017
 |
| The global economic (The Total Investment & Insurance Solutions) |
India
has been placed at a low 103 rank, the lowest among BRICS economies, on the
WEF's Global Human Capital Index, which has been topped by Norway.
India
also ranks "among the lowest in the world" when it comes to the
employment gender gap, but has fared well when it comes to development of
skills needed for the future with a rank of 65 out of total 130 countries
surveyed.
The
list compiled by Geneva-based World Economic Forum (WEF) takes into account
"the knowledge and skills people possess that enable them to create value
in the global economic system" to measure the 'human capital' rank of a
country. The Total Investment &
Insurance Solutions
India
was ranked 105th on this list last year, while Finland was on the top which has
pushed by Norway to second place this year.
The
WEF said India is ranked lower than its BRICS peers, with Russian Federation
placed as high as 16th place, followed by China at 34th, Brazil at 77th and
South Africa at 87th place. The Total
Investment & Insurance Solutions
Among
the South Asian countries also, India was ranked lower than Sri Lanka and
Nepal, although higher than neighbouring Bangladesh and Pakistan.
"India
is held back by a number of factors, including low educational attainment
(primary education attainment among 25 -54 year olds is 110th for example) and
low deployment of its human capital, meaning the skills available are not
getting put to good use", WEF said.
The Total Investment & Insurance Solutions
Giving
examples, WEF said India ranks 118 for labour force participation among the key
35-54 year old demographic, suggesting far too many Indians are engaged in
informal or subsistent employment.
"However
there is a modern India rising. When it comes to development of skills needed
for the future, the country fares strongly, ranking 65 out of 130," it
said adding the country also performed well in the know-how parameter that
measures the use of specialised skills at work. The Total Investment & Insurance Solutions
"India
faces a number of challenges but looks to be moving in the right
direction," WEF noted. The Total
Investment & Insurance Solutions
The
overall list was topped by Norway, followed by Finland and Switzerland in the
second and third place respectively. The
Total Investment & Insurance Solutions
Other
countries in the top 10 include, the United States (4th), Denmark (5th),
Germany (6th), New Zealand (7th), Sweden (8th), Slovenia (9th) and Austria
(10th).
The
report measures 130 countries against four key areas of human capital
development; Capacity (determined by past investment in formal education),
Deployment (accumulation of skills through work), Development (continued
upskilling and reskilling of existing workers) and Know-how (specialised
skills-use at work). The Total
Investment & Insurance Solutions
According
to the report, 62 percent of human capital has now been developed globally. The Total Investment & Insurance
Solutions
"The
Fourth Industrial Revolution does not just disrupt employment, it creates a
shortfall of newly required skills. Therefore, we are facing a global talent
crisis," said Klaus Schwab, Founder and Executive Chairman, World Economic
Forum.
Schwab
further noted that "we need a new mind-set and a true revolution to adapt
our educational systems to the education needed for the future work
force".The Total Investment &
Insurance Solutions
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