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. Russian Federation placed as high as 16th place, followed by China at 34th, Brazil at 77th and South Africa at 87th place. Among the South Asian countries also, India was ranked lower than Sri Lanka and Nepal, although higher than neighbouring Bangladesh and Pakistan. The list was topped by Norway with 1st rank in the overall ranking. It was followed by Finland in the 2nd position and Switzerland ranked 3rd. 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). 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 Global Human Capital Index is prepared by WEF (World Economic Forum) for 130 countries based on the knowledge and skills people possess that would find value in the global economic system. The rankings are based on 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).