India adds 12 million people to its workforce every year. By 2030, a third of world’s working age population is going to be from India. There are as many as 711 million people in India in the working age group of 15-59years, with the majority requiring additional or new skills. India is a young and ambitious country and skill development needs to hold top priority.
Although literacy rates have risen in the last few decades, there still remains a fundamental flaw in the education system in India. The curriculum is mostly theory-oriented and fails to provide vocational training required to match up with current economic environment. The degree-oriented system renders itself redundant when it comes to producing human resources adept at fitting into specific profiles within the economy.
India lags far behind in imparting skill training as compared to other countries. Reports indicate that only 10% of the total workforce in the country receives some kind of skill training (2% with formal training and 8% with informal training). Further, 80% of the entrants into the workforce do not have the opportunity for skill training.
The tragedy that less than 2% of India’s workforce has formal skills and even among those who have some sort of training or qualification, only a third today, are armed with employable skills amounting to a colossal waste of our biggest asset: people power.
There is a growing shortage of skilled manpower in the country. 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.
Fly Higher India (FHI) is committed to improving employability in India through skill development.
We are focussed towards “positive transformation”.