Why is India Positioned at 72nd in the Global Talent Competitiveness Index 2020?
The question of why India holds a position of 72nd in the Global Talent Competitiveness Index (GTCI) 2020 is multifaceted. While the country has made significant strides in technological prowess and education, various factors contribute to its current standing.
High Education Culture and Government Initiatives
The education culture in India is indeed highly valued, with all state governments following the central government's suggestions and providing support in this area. This has led to a considerable number of Indians excelling in technology and contributing to major global tech companies. However, merely having a high education culture isn't enough to ensure a top position in the GTCI.
Risk Aversion and Government Policies
One of the key reasons underlying India's ranking is the inherent reluctance of Indians to take risks. This risk aversion can be attributed to several factors, including:
Uncertainty and Fear of Failure: Many Indians fear the potential negative outcomes associated with taking risks, which can deter them from pursuing new and innovative ventures. Economic and Social Pressure: The pressure from family, society, and economic factors often discourages risk-taking behavior. Lack of Supportive Policies: Government policies have not always been encouraging of risk-taking. This can be seen in areas such as entrepreneurship and startups, where there might be insufficient support, incentives, or structural changes to foster a culture of innovation.Nurturing and Developing Talent in India
Despite the reputation as an IT superpower, India still has a long way to go in nurturing and developing its talent pool. There are several challenges that the country needs to address:
Educational Infrastructure Gaps: While India has a large number of high-quality educational institutions, there is often a mismatch between the skills being taught and the demands of the job market. This can lead to a disconnection between theoretical learning and practical application. Entrepreneurship Ecosystem: The entrepreneurial ecosystem in India needs significant improvement. Lack of access to capital, mentorship, and poor regulatory frameworks can deter potential entrepreneurs. Digital and Technological Infrastructure: Despite progress, rural areas often lack the necessary technological infrastructure, making it challenging to nurture talent beyond urban centers.Conclusion and Recommendations
In conclusion, India's position in the GTCI 2020 is a reflection of its continued efforts to develop its talent pool and address the challenges it faces. It is crucial for the government to take proactive measures to:
Encourage risk-taking behavior among citizens. Enhance the quality of education to better align with the job market. Create a supportive environment for entrepreneurship. Bolster the technological and digital infrastructure in rural areas.The journey to becoming a global leader in talent competitiveness is ongoing, and with the right strategies and policies, India can undoubtedly move up the ranks in future GTCI rankings.