Why India Skills?

Skilled people are the backbone of a growing economy

The Indian economy is growing at a fast pace. Service sectors such as retail, hospitality, banking and industries, such as auto and construction are witnessing rapid growth. This growth has spurned a huge demand for skilled manpower, right from entry to specialised levels. The National Skills Development Commission has estimated the need for about 3 crore trained manpower over the next five years.

For the Indian economy to grow at a steady pace, the nation’s skills development programme needs to be at par with the projected requirement. The shortfall of skilled manpower in service and operations has resulted in lowered business productivity. This has also led to business complexity and higher acquisition costs by poaching and in-house training. Of the new jobs being created across industries, 75% will require skill straining in order to be employable. The disproportionate statistics in skills development programme has led to importing of labour.

The Indian government, understanding the criticality and need for skills training, has commenced key initiatives in this area to fill the enormous need gap.

India will be the skills capital of the world

Here are some interesting facts: 64% of India's population would be in the working age of 15-64 years by 2026. As the world population ages, India will have the advantage of a younger demographic. This means that India would have one of the largest and youngest working populations in the world. In the face of global shortages in skilled labour, India could be poised to supply skills to the world. And here lies another opportunity waiting to be tapped.