India has identified skill development as one of the critical aspects of job creation. Approximately 60% of India’s population is aged under 25 years, giving it an ideal demographic advantage. However, to maximize the benefits of such a large workforce, employability has improved. Statistically, only 10% of newly-graduated students are employable, and the other 90% lack the necessary skills has hired by corporations. However, the rate of job creation in India remains below that of the GDP growth rate.
Compared to its neighbors, India is a relatively young nation. Approximately 28 million young people join India’s workforce every year. India’s unemployment rate has reported at a forty-five-year high of 6.1% by the National Sample Survey Office in 2018. In the wake of the COVID pandemic, the economy was already slowing down. In pandemic economic life has completely disrupted.
Skill Development and India’s future
Increasing numbers of placement opportunities: As a result of government and university initiatives for skill development, many students were able to get jobs easily during the placement drives. A productive, proficient employee is essential for any organization. Through skill development, people could work more productively and accomplish more targets in less time, resulting in both individual and corporate growth.
Youth has given good opportunities according to their wishes and requirements by the government. A minimum of 70% of people should be capable of finding a job after graduation. A skill awareness program aids people in understanding the prospects of skill training and improves the chances of achieving more targets.
In any given area of skill development, a person becomes more proficient. Improved communication, time management, and negotiation skills were among the skills was enhanced.
In 2015, the government of India launched sarkari yojana which is PMKVY under Skill India Mission. There are a variety of small skilling schemes that are part of this umbrella scheme. By launching this scheme, our main objective is to give the youth of our country adequate skill sets that will increase their chances of employment in diverse sectors of the economy. Furthermore, it helps individuals to improve their productivity.
Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
The Pradhan Mantri Kaushal Vikas Yojana intends to energize the youthful populace of the nation is to take up preparing that is industry-pertinent and construct them in ability advancement. The plan comprises of particular parts like the National Skills Qualification Framework(NSQF), Kaushal, and Rozgar Yojana suppers, Recognition of Prior Learning(RPL) among others.
Skills Development Services India
In the Ministry of Skill Development and Entrepreneurship. It has created a new government service called the Indian Skill Development services. By significantly improving the efficiency and effectiveness of several programs in the domain. It is a major push toward the government’s skill development initiatives.
2015 National Skills Development and Entrepreneurship Policy
Providing a framework for all skill-building activities in India, this program aims to unite them under one roof. Individuals can align their skill sets with demand centers and align themselves with common standards. A policy not only lays down the objectives and expected results. However, was recognized the in general institutional system that will empower the ideal outcomes has accomplished.