Europe continues to dominate the rankings globally, with Denmark, Switzerland and Belgium being the most competitive countries. Finland, Austria, the Netherlands, Norway, Germany, Sweden and Luxembourg made up the top 10.

Europe have outstanding education system that’s why they are able to develop local talent and they are also attracting foreign talent.

The rankings are based on a country’s performance in three main categories:

1. Investment and development

2. Appeal

3. Readiness

 India was ranked 62nd, 43rd and 29th on these terms, respectively.

According to Arturo Bris, Head of Competitiveness, IMD Switzerland, India is not doing a good job at retaining local talent and attracting foreign labour.