Becoming the World’s Skill Capital

India has made substantial economic strides in recent years. The growing economy needs a constant supply of skilled manpower. But our emphasis on degree rather than skill is a stumbling block in the way of economic growth. On the one hand, India has a large number of educated unemployed, and on the other, industry is desperately short of skilled professionals. The situation is made worse with a near exodus of youth from rural areas to towns and cities in search of employment. The employability gap gets wider every day.

One of the biggest challenges hiring managers face today is finding candidates with the right skill sets. The answer lies in vocational training and skill development. Vocational training and skill development need to be a strong component of the curriculum of all placement institutes. Being qualified is one thing, being job-ready quite another. In the wake of the changing economic environment, it is necessary to focus on inculcating and advancing the skill sets of the young population of the country.

Changing reality

It has taken India nearly seven decades to realize the importance of skilling people. Vocational training and skill development have not been given due importance by the mainstream education system. Reports indicate that only 10 percent of the Indian workforce receives any kind of skill training. But things are changing. The altered demographic profile of the country with nearly 60 percent of the population under 25 years of age, the rising aspirations of our youth seeking satisfying, well-paying jobs and the growing requirements of industry for an efficient, well-trained workforce have contributed to a focus on skill development.

Government’s efforts

If India aspires to be a global player, it has to align its growth with the need for an industry-ready workforce. There is a renewed emphasis on promoting vocational training and skill development in collaboration with various stakeholders. A separate Ministry for Skills Development & Entrepreneurship has been instituted to streamline skill development initiatives. The Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with a generous outlay has been set up.

Industry’s role

The government alone cannot handle the gigantic task. If India is to achieve PM Modi’s target of being home to a skilled workforce of 500 million by 2022, vocational and skill development companies, as stakeholders in the economy, ought to be actively involved in imparting skill and training to people. The way forward lies in taking initiatives to achieve this ambitious target in the right scale and speed.

Perfect matching

As India’s leading talent development company involved with training and skilling manpower for the industry since 1999 and as an active NSDC partner, ICA Edu Skills looks forward to providing a workforce that can make India the Skill Capital of the world. With a presence in 23 states PAN India, we customize training in accordance with industry requirements and are doing our bit to bridge the skill shortage. Demography is on our side. A significant portion of this demographic dividend lies in rural areas, which is one of ICA Edu Skills’ focus areas. Many a time, an organization needs only 10+2 candidates from a rural background to fill their vacancies. Placement institutes can match the organization’s and the candidate’s requirements. Perfect matching is the key to economic growth.

Multi-stakeholder partnership

Pradhan Mantri Kaushal Kendra partners like ICA have set up model training centers and run industry-driven high-quality courses with a focus on employability. They also mobilize rural youth and convince them to move to cities where the jobs are, providing them guidance and counseling training and placement. Skilling and placement institutes can be the government’s big ally. The government needs to encourage more of such multi-stakeholder partnerships to impart relevant and employment-worthy skills. Such partnerships are already generating interest in the vocational training and skill development sector. Perhaps the government could incentivize such efforts with tax concessions and grants.

Way forward

Private players with good credentials and proven track record could be encouraged to enter the skill development sector. If the government can do this successfully and rope in reputed players, Modi’s dream of Skill India can fast become a reality. The provision of fiscal incentives to the private sector for setting up vocational and skill development institutions is encouraging private organizations to give the government a helping hand in this effort. The biggest challenge in India lies in finding out the best training institute in India and how to make skilling programs relevant. Skill and vocational training institutes that provide job guarantee courses like ICA Edu Skills can show the way.