Skilling through Pooled Endeavors in India

Abstract

India is fortunate to boast a mixed economy, adorned with the co-existence of public, private, and joint sectors. This arrangement addresses the inefficient skilling patterns that prevailed before the implementation of The National Policy on Skills (2009), meeting the current needs effectively. With the recent growth and progress, the Indian economy has transitioned into a knowledge-based economy. To uphold this status, skilling becomes imperative to compete in the global employment landscape. Therefore, prioritizing the skill development of the working population is essential for the government. This priority is underscored by the remarkable progress India has achieved under the National Policy on Skills (2009) over the years. Furthermore, the private sector has acknowledged the significance of skill development and has initiated facilitation through three key dimensions: non-profit initiatives, for-profit enterprises, and consumer engagement. Presently, numerous skilling opportunities are being provided by both the government and the private sector, demonstrating effective collaboration between the two. India still lags far behind in providing skill training compared to other countries, with only 10% of the total workforce receiving any form of training (2% formal and 8% informal). Consequently, there exists a significant shortage of skilled manpower in the country, posing a formidable challenge for the Indian economy to address the needs of the remaining 80% of the unskilled workforce. This challenge can only be tackled through the establishment of a comprehensive framework for an efficient educational platform, encompassing availability, accessibility, adaptability, and acceptability. By implementing such a mechanism and thereby improving the quality of entrants, both the public and private sectors can foster a substantial labor market, making India an attractive destination for foreign investment and multinational corporations (MNCs). Hence, the current imperative is to synergize efforts and resources to establish a feasible framework for vocational and skill development.