Business Will Grow Between Uzbekistan and India
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.