Business Will Grow Be­tween Uzbek­istan and In­dia

FICCI Business Digest - - Contents -

The fu­ture out­look seems to be fas­ci­nat­ing yet com­plex for one of the fastest grow­ing economies and home to the world's youngest pop­u­la­tion by 2022. To­day, 65 per cent of In­dia's pop­u­la­tion is in the work­ing age group, this de­mo­graphic div­i­dend would be re­alised only if the young­sters pos­sess 'new-age' skills and be­come glob­ally com­pet­i­tive.

In­creas­ing ad­vanced tech­nolo­gies have fur­ther en­sured less labour ab­sorp­tion even in labour in­ten­sive sec­tors. In the changed sce­nario, new in­no­va­tive mod­els of em­ploy­ment are emerg­ing. Even old or­gan­i­sa­tions are us­ing new-age in­no­va­tion to match up the mod­ern needs. In­dia cur­rently has more than 26,000 star­tups and these star­tups have cre­ated a mar­ket cap­i­tal­i­sa­tion of $95 bil­lion based upon all the fund­ing that has come in. Poli­cies to build em­ploy­a­bil­ity and pro­mote mo­bil­ity are thus con­ducive to higher pro­duc­tiv­ity and ef­fi­cient matches be­tween skills and op­por­tu­ni­ties. In­no­va­tions and tech­nolo­gies are con­tribut­ing to eco­nomic growth and em­ploy­ment, but a more in­te­grated ap­proach to skill de­vel­op­ment can fur­ther help the coun­try to make struc­tural ad­just­ments and achieve gain­ful em­ploy­ment and pro­duc­tiv­ity ob­jec­tives.

High­light­ing the re­cent sce­nario of jobs and skill de­vel­op­ment, FICCI and the Min­istry of Skill De­vel­op­ment & En­trepreneur­ship or­gan­ised the 11th Global Skills Sum­mit 2018, in New Delhi on 15 Septem­ber 2018. Here, in­au­gu­rat­ing the sum­mit, Union Min­is­ter of Petroleum & Nat­u­ral Gas and Skill De­vel­op­ment & En­trepreneur­ship, Dhar­men­dra Prad­han, called for a col­lec­tive in­tro­spec­tion on the chang­ing na­ture of job pro­files and urged those re­spon­si­ble for fash­ion­ing pub­lic pol­icy to zero in on the na­ture of fu­ture jobs and where they would be avail­able. In­ter­net, he said, was chang­ing the char­ac­ter of the work­place at a fre­netic pace, and there­fore, pol­icy shapers need to as­tutely com­pre­hend the jobs sce­nario.

Prad­han said the be­lief that tech­nol­ogy and in­no­va­tion were squeez­ing the job space was a myth. While some jobs were be­ing squeezed, a multi-fold in­crease is be­ing wit­nessed in many other sec­tors due to tech­no­log­i­cal in­no­va­tion. In­dia, he said, was blessed with in­tel­lec­tual man­power, and the time was ripe to chan­nelise this as­set into cre­ation of gain­ful em­ploy­ment for the peo­ple en­dowed with the right type of skills.

Ear­lier, Chan­dra Mo­han Pa­to­wary, Min­is­ter of Skill, Em­ploy­ment & En­trepreneur­ship, Gov­ern­ment of As­sam, un­der­scored the dire need to im­part in­dus­try-ori­ented skills to the wave of young peo­ple who join the work­force each year. He stressed on the im­por­tance of pro­duc­ing knowl­edge­able train­ers to im­part train­ing to the youth in the emerg­ing skill re­quire­ments of the coun­try. For­mal ed­u­ca­tion, he said, was of lit­tle value in jobs of the fu­ture; it is the skills im­bibed by the new en­trants to the work­force that will stay with them and hold them in

Dhar­men­dra Prad­han, Union Min­is­ter of Petroleum & Nat­u­ral Gas and Skill De­vel­op­ment & En­trepreneur­ship (right) with TV Mo­han Das Pai, Chair­man, FICCI Skill De­vel­op­ment Com­mit­tee & Chair­man Ma­ni­pal Global Ed­u­ca­tion.

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