Worldwide

India ranks lower than Sri Lanka and Nepal in human capital index

India ranks lower than Sri Lanka and Nepal in human capital index”

According to World Economic Forum's Global Human Capital Report 2017, Pakistan is at the 125th spot out of 130 in a list that ranks countries on the basis of how well they perform in the education and skills development and infrastructure.

Among South Asian countries, Sri Lanka was the top performer ranking at 70.

From its 49th spot a year ago, the Philippines ranked 50th out of 130 economies in the human capital index, or in its ability to maximize the population's economic potential.

India was on 105 position on the list previous year.

The list compiled by Geneva-based Forum, 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 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. However, the education performance on the tertiary level is relatively better even though skill diversity among our university graduates is low as compared to other countries. However, it scored poorly in the deployment subindex (87th), as a result of weak labor force participation and low marks in its employment gender gap. However, at the same time there is a modern India rising. Meanwhile, the country ranked 60th in the development and know-how sub-indices. India faces a number of challenges but looks to be moving in the right direction, the WEF report also points out. Completing the top 10 are Germany, New Zealand, Sweden, Slovenia and Austria.

Romania develops only two-thirds (66.1%) of its human capital, whereas nearly 34% its lost.

The WEF GHCR said the global economy was at risk of a talent crisis due to mismatches between investment in education systems and efforts to deploy and develop during people's working lives.

However, it simultaneously recorded low primary and secondary education attainment across all age groups and one of the lowest current primary school enrolment rates globally, pointing to excessively uneven human capital outcomes and the untapped opportunities of pursuing a more inclusive human capital development approach. The Fourth Industrial Revolution does not just disrupt employment, it creates a shortfall of newly required skills.



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