Skill Development, Workforce, Employment, Youth Empowerment, Skill gap.
Skills and knowledge are driving forces of economic growth and social development for any country. Countries with higher levels and better standards of skills adjust more effectively to the challenges and opportunities in domestic and international job markets. Today, India is one of the youngest nations in the world with more than 62% of its population in the working age group (15-59 years), and more than 54% of its total population below 25 years of age. Its population pyramid is expected to bulge across the 1559 age group over the next decade. It is further estimated that the average age of the population in India by 2020 will be 29 years. During the next 20 years the labour force in the industrialized world is expected to decline by 4%, while in India it will increase by 32%. This poses a formidable challenge and a huge opportunity. To reap this demographic dividend which is expected to last for next 25 years, India needs to equip its workforce with employable skills and knowledge so that they can contribute substantively to the economic growth of the country. The Prime Minister launched SKILL INDIA on July 15, 2015, on the occasion of the first ever World Youth Skills Day, It includes four important and complementary initiatives of the Ministry of Skill Development and Entrepreneurship. The National Skill Development Corporation India (NSDC) was setup as a one of its kind, Public Private Partnership Company with the primary mandate of catalyzing the skills landscape in India. It made far more focused and comprehensive towards promoting self employment through productive activities. The National Skill Development and Entrepreneurship Policy of 2015 is an integrated approach involving coordination with ministries and organizations covering various sectors which are implementing either skill development or entrepreneurship programmes. Being the youngest nation with more than 62 per cent of its population in working age group of 15-59 years, and more than 54 per cent of its total population below 25 years of age, it seems feasible. Skill development is critical for economic growth and social development. The demographic transition of India makes it imperative to ensure employment opportunities for more t
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Unique Paper ID: 156529

Publication Volume & Issue: Volume 9, Issue 4

Page(s): 54 - 60
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