US-based global organisational consulting firm Korn Ferry has said India would have a talent surplus of around 245.3 million workers by 2030 at a time when the Asia Pacific (APAC) region would face a talent deficit of 47 million workers. The world's sixth largest economy, India, is the only place in the APAC region that will have a talent surplus by 2030, says the Korn Ferry study named as 'Global Talent Crunch'.

The study says the skilled talent shortage will continue to impede growth and, if not addressed, could have a significant impact on major APAC economies by 2030. "Companies must work to mitigate this potential talent crisis to protect future," said Michael Distefano, Chief Operating Officer, Korn Ferry Asia Pacific. He added that if left to run its course, this shortage will severely impact the growth of markets across APAC. The region is expected to have an imminent talent deficit of over 12.3 million workers by 2020, rising to a shortage of 47 million workers by 2030. The shortage could lead to $4.238 trillion in unrealised annual revenue loss if the problem is not addressed, the report says.