By Muqbil Ahmar
According to the Economic Survey, annual employment growth in India was barely 0.5 percent during 2004-12, whereas the labor force growth was around 2.9 percent. According to Indian Government‘s very own Labor Bureau, India created only 135,000 jobs in eight labor-intensive sectors in 2015, whereas the number of people working or looking for jobs grew by more than 10 million. The situation is alarming.
India Skills Report suggests that by 2025, more than 250 million of India’s youth would have entered the workforce, whereas job growth has been at an all-time low. What will India’s youth do? The crisis could lead to social instability together with turmoil in the country.
In such a situation there is a bottom-up solution that can be tried by the Indian Government. In a developing country like India, the focus of education must shift from being “qualification-based” to “skill-based.” Educational institutions need to ramp up skills related to employability, instead of just doling out certificates and degrees. Industry and centers of higher education need to collaborate and flesh out a curriculum which would include technological education and advancement.
India the skilled youth capital of the world?
This must be done to leverage India’s biggest advantage: its youth. India is a young nation where 62 percent of Indian population is in the working-age group and more than 54 percent is below 25 years. In order to exploit this demographic dividend, the most important step is to develop skills and accept their importance with an open mind—as it happens in China.
In fact, India is poised to become the world’s youngest country with a large part of its population in the ‘working age group’ by the end of 2020. It offers India’s growing economy an exceptional edge that could add a 2% GDP growth. In order to make India the ‘skilled-capital of the world’, it is necessary to provide students better practical experience, understanding and knowledge to prepare them for jobs and employment opportunities not just in the country, but also globally.
Author Bio: I am a writer, editor, columnist, technology evangelist, tech blogger, film critic, theater activist, journalist, but basically a storyteller and blogger at heart. I also write on social issues, startups, SMEs, technology, environment, economy, women empowerment, and arts and culture. I am also a theater activist. Music, theater, films are my passions. You can visit my blog https://muqbilahmarwordpress.wordpress.com/. I invite bloggers, writers, technology evangelists, and others to connect with me on Twitter @muqbil_ahmar, LinkedIn and Facebook.