Skills and knowledge are the driving forces of economic growth and social development for any country.
India is expected to be home to a skilled workforce of 500 million by 2022. About 12 million persons are expected to join the workforce every year. This talent pool needs to be adequately skilled. Given the significance of skill development there is the overarching need for quality structures to be in place, especially from the perspective of successful implementation. Such quality standards and processes are required at all segments of the ‘skill development value chain’.
In India, only about 5% of the workforce has marketable skills, as compared to 50% to 60% in other countries. The magnitude of the challenge is further evident from the fact that about 12 million persons are expected to join the workforce every year. This emerging socio-economic scenario is poised to drive the demand for skilling India.