One of the key problems faced by emerging businesses is to find the right people with the right skill sets.
To address this gap, the Centre will be soon launching a National Skills Mission through the Skill Development and Entreprenuership Ministry that was created last year. The Indian government had in the last interim budget announced to create a separate ministry to address the needs of growing entrepreneurial ecosystem of the country.
“India is one of the youngest nations in the world with more than 54 per cent of the total population below 25 years of age. Our young people have to be both educated and employable for the jobs of the 21st Century. Skill India needs to be closely coordinated with Make in India.
“Yet, today less than 5 per cent of our potential workforce gets formal skill training to be employable and stay employable,” Finance Minister Arun Jaitley said. The Mission will consolidate skill initiatives spread across several Ministries and standardise procedures and outcomes across 31 sectors. Industry players in beauty, food, and retail and hospitality sectors said that skill development can play in ensuring that the country is in a position to take advantage of its favourable demographic profile to achieve a quicker and more inclusive growth.
“The launch of a National Skill Mission and aligning it with the ‘Make in India’ theme will lay the foundation for the country being in a position to emerge as the ‘Skills Capital’ of the world by 2022. The rationalisation of various legacy skill development schemes under the Ministry of Skill Development & Entrepreneurship and making the Sector Skill Councils the fulcrum for all skill development-related initiatives will ensure that our youth receive industry-oriented training that will help them become employable,” said Vandana Luthra of beauty firm VLCC.