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INDIA BY 2020 :
POPULATION 1.3 billion
POPULATION OF WORKING AGE 0.8 billion
Recently, PeopleStrong (multi-process HR outsourcing and technology) a Gurgaon based company; Wheelbox (leading online talent assessment company) and CII (Confederation of Indian Industry) published an authentic report on the skills gap in India. The report is titled as “THE INDIA SKILLS REPORT 2014” and here is what the report talks about:
Come 2020, and India will enter into “Golden Growth Era” in the demographic dividend. To quote the report “We would not have enough manpower to meet our needs but we can help the world as well.” But in a knowledge based economy, quantity is not important. What is vital is the quality and skill set of the available manpower. As CII observes, “In fact, having a lower head count of skilled manpower is much better than a manpower whose larger portions is unemployable.” And that is precisely what could be India’s Achilles Heel.
At the current pace, India is going to face a staggering skill gap of 75-80% across all the industry sectors. Which means we’ll have enough people who are ready to work; but unemployable by Industry standards. This will create vicious economic impact and will have greater adverse social impacts on the educated frustrated unemployed youth of the country.
The Government of India has already started National Skill Development Coordination Board (NSDCB), along with Planning Commission to produce 700 million skilled people by 2022. Individual states are also not sitting idle. They are doing their bit to tackle the skill scourge by implementing various programs and policies. However, the success of skill development among the students will greatly depend on one basic criterion. The coordination between the colleges and the corporates. The report put it aptly “It is imperative to educate them about each other’s expectations so that informed plans for future can be prepared.”
Here are some of the key topics that the report talks about in great conclusive details:
The report contains comprehensive insights with exhaustive surveys into the current skills landscape of many Indian states. This report can serve as a blueprint for both the concerned parties (Colleges & Corporates) and the Govt. to work collectively and scale up the employability of our students and prepare them for the future job markets.