India’s demographic advantage of around 600 million people under the age of 25 can translate into an economic advantage only if youth are also employable.
Estimates peg 12-15 million youth will join the country’s workforce annually over the next two decades. Lack of communication, cognitive and analytical skills have marred the employment potential of even higher degree holders such as engineering graduates. A dismal 4% of the population has undergone any vocational training.
India can no longer rest on its laurel of cheap manpower as jobs require skills. New age technologies such as AI, machine learning and automation will replace jobs across sectors. However, new jobs will also be created requiring individuals to get skilled and re-skilled. What role will mass government training programmes play, are they important and what should we expect from a future workforce to mitigate the severe skills crunch facing the country?
Hrishikesh Jha, Chief People Officer, Aadhar Housing Finance Ltd, gives his views.
