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India ranks 78th on human capital index
India has been placed at a low 78th slot on a global Human Capital Index, which ranks countries on the basis of economic potential of their labour force, while Switzerland has topped the ranking.
According to the list of total 122 countries released on Tuesday by the Geneva-based World Economic Forum (WEF), India has been ranked lower than three of its BRICS peers -- China (43rd), Russia (51st) and Brazil (57th), while South Africa is placed at 86th place.
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India ranks 78th on human capital index
While India has scored well on parameters like workforce and employment, it has fared poorly for health and wellness of its labour force, WEF said.
According to the report, low scores on sanitation and hygiene, as also second-to-bottom rank on the health gender gap indicator are some of the variables driving down the overall ranking for the country.
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India ranks 78th on human capital index
WEF said that its Human Capital Index is a new tool designed to measure how countries manage human capital endowments and the countries have been ranked on the basis of the long-term economic potential of their respective labour forces.
The list measures countries on their ability to develop and deploy healthy, educated and able workers through four distinct pillars -- education, health and wellness, workforce and employment, and enabling environment.
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India ranks 78th on human capital index
According to the report, a nation's human capital endowment – productive skills and capacities – can be a more important determinant of long-term economic success than virtually any other resource.
"The key for the future of any country and any institution lies in the skills and talent of its people," WEF Founder and Executive Chairman, Klaus Schwab, said.
"In the future, human capital will be the most important kind of capital. Investing in people is not just a nice to have and it is imperative for growth, prosperity and progress," he added.
In the sub-rankings, India is placed at 49th place for workforce and employment, 63rd position for education, 67th on enabling environment, but at 112th for health and wellness.