Global Talent Competitiveness Index 2023

The Global Talent Competitiveness Index is an annual benchmark report. It aims to compare the relationship between talent and competitiveness. This index was originally introduced in 2013. The report is released by the prestigious chain of business schools INSEAD. In association with the Descartes Institute for the Future and the Human Capital Leadership Institute, INSEAD has issued the 2023 study, which ranks 134 nations according to their ability to develop, bring in, and retain talent. India dropped considerably from number 83 in the Global Talent Competitiveness Index ten years ago to 103 in the most recent study released in the year 2023.

In this article, we will look into the Global Talent Competitiveness Index 2023, India’s ranking in the Global Talent Competitiveness Index 2023, and its main findings in detail.

Global Talent Competitiveness Index

Global Talent Competitiveness Index is an annual benchmarking report released by the esteemed INSEAD network of business schools. It measures how nations develop, attract, and hold onto talent. It offers decision-makers a special tool to understand the landscape of global talent competitiveness and create plans to strengthen their economies. The index uses the input and output sub-indices. The input studies the commercial and regulatory settings, as well as the initiatives being taken to develop and retain people. The talent’s quality is assessed by the output side.

Global Talent Competitiveness Index 2023

The Global Talent Competitiveness Index 2023 report has been released by INSEAD in partnership with the Descartes Institute for the Future and the Human Capital Leadership Institute. It is the tenth edition of the report. The report’s tenth edition includes data from 134 nations in all income brackets.

The top three countries on the index are Switzerland, Singapore, and the US. The remaining nine places on the list are occupied by Denmark, the Netherlands, Finland, Norway, Australia, Sweden, and the United Kingdom. India is the least desirable country among the BRICS, coming in at number 103. With a ranking of 40, China continues to lead the BRICS group of nations, followed by Russia at 52, South Africa at 68, and Brazil at 69. India is ranked lower than Rwanda, Paraguay, Tunisia, Namibia, Bolivia, Ghana, El Salvador, Gambia, Kenya, Morocco, and Eswatini. Other developing nations have improved on this score, according to the research; Mexico, China, and Indonesia are highlighted in particular.

India’s Ranking in the Global Talent Competitiveness Index 2023

India’s ranking in the Global Talent Competitiveness Index 2023 is 103. The current ranking of India is considerably lower than the GTCI’s median score for the participating nations. India’s top-performing sector in the GTCI is “Global Knowledge Skills,” which is supported by software development and innovation. This helps the country rank 69th in the “Talent Impact” sub-pillar.

Rank	103
Skills Mismatch	India ranks poorly in the areas of “Employability” and “Vocational and Technical Skills” due to a growing skills mismatch and challenges in locating skilled workers.
BRICS Nations	India has the lowest GTCI score of all the BRICS nations. China is ranked 40th in the group, ahead of Brazil at 69, South Africa at 68, and Russia at 52.
Top Three Countries	The top three countries are the Switzerland, Singapore, and US.

Global Talent Competitiveness Index (GTCI) Country Rankings 2023

The following table lists the rankings of top 25 countries of Global Talent Competitiveness Index (GTCI) 2023:

GTCI Rank	Country
1	Switzerland
2	Singapore
3	US
4	Denmark
5	Netherlands
6	Finland
7	Norway
8	Australia
9	Sweden
10	UK
11	Luxembourg
12	Ireland
13	Canada
14	Germany
15	Iceland
16	Belguim
17	Austria
18	New Zealand
19	France
20	Estonia
21	Malta
22	UAE
23	Czech Republic
24	Korea
25	Israel

Main Findings of the Global Talent Competitiveness Index 2023

The main findings of the Global Talent Competitiveness Index 2023 are mentioned below:

• The government frequently uses ratings on specific business indices, “Ease of Doing Business,” and even the controversial World Bank-led “Doing Business” scores to support its position, which is a sharp decline that is cause for concern in India. The World Bank’s “Doing Business” report was withdrawn because of inconsistencies in the way it was calculated.
• Among the BRICS nations, India has the lowest ranking in the Global Talent Competitiveness Index (GTCI).
• With a ranking of 40, China continues to lead the BRICS group of nations, followed by Russia at 52, South Africa at 68, and Brazil at 69.
• India, at 103rd place, continues to be the lowest-ranked BRICS member, according to the report (page 36). India’s talent competitiveness increased in the years leading up to 2020, but in the three years after, it has declined. This decline in business sentiment is a major factor in the GTCI rankings, as it has negatively impacted the ability to “Attract talent” (now ranked 132nd of 134), whether that talent is domestically (129th in Internal Openness) or internationally (127th in External Openness sub-pillar).
• According to the findings, there is a growing skills gap and a shortage of competent workers, which has caused India to rank 121st in terms of both the “Vocational and Technical Skills” pillar and the “Employability” sub pillar.
• According to the study, India is leading the world in Global Knowledge Skills, the second of the output-related pillars, with software development and innovation pushing the country to the 69th rank in the Talent Impact sub-pillar.
• Other developing nations have improved on this score, according to the study; Mexico, China, and Indonesia stand out in particular. Among the top performers over the previous ten years are a few of the biggest emerging economies.
• China has become a talent champion; Indonesia is among the nations that have made the biggest progress in talent competitiveness in the last ten years. Mexico has transformed from a talent laggard to a talent mover. Brazil has advanced to the point where it may soon be classified as a talent mover.
• The three countries that rank highest on the scale are the US, Singapore, and Switzerland. The Top 25 rankings are still dominated by European nations. South Korea has jumped up to replace Japan, which has left the top 25 for the first time.

Global Talent Competitiveness Index UPSC

Global Talent Competitiveness Index UPSC is an important topic for UPSC examination. This is covered in the GS-II paper of the UPSC mains examination. Also, these kinds of rankings are important for prelims point of view. So, candidates appearing in UPSC CSE can refer to this article to get comprehensive notes on Global Talent Competitiveness Index.

FAQs- Global Talent Competitiveness Index 2023

1. What is the rank of India in Global Talent Index 2023?

India is the least desirable country among the BRICS, coming in at number 103. With a ranking of 40, China continues to lead the BRICS group of nations, followed by Russia at 52, South Africa at 68, and Brazil at 69.

2. What are the world’s most talent competitive countries 2023?

The top three nations in the world for talent competition, according to this year’s rating, are the United States, Singapore, and Switzerland, rankings they have steadily held for many years. The remaining nine places in the top 10 in 2023 are occupied by Denmark, the Netherlands, Finland, Norway, Australia, Sweden, and the United Kingdom.

3. Who releases the Global Talent Competitiveness Index?

Every year, INSEAD, the Business School for the World, along with Knowledge Partner, the Human Capital Leadership Institute, and the Descartes Institute for the Future—an independent, non-profit, high-level consultancy in multilateral projects—publish the GTCI report.

4. Why is Global Competitiveness Important?

Since competitiveness and long-term economic growth are strongly correlated, competitiveness is significant. When a nation uses its resources and expertise to enhance both the productivity of its businesses and the standard of living for its people, it can be seen as competitive.

5. What are the Advantages and Disadvantages of Global Competition?

The international market competition presents both huge opportunities and severe challenges. The advantages involve reducing corporate risk, cutting expenses, and gaining access to new markets. Cultural, political, and economic risks are among the risks that exist.