Currently, only a very small proportion of India’s workforce has formal skill training of any kind. Not surprisingly, several sectors of the country’s economy face shortage of skilled people and are mired with low productivity due to poor quality of workforce. At the same time, large sections of the country’s youth are looking for economic and livelihood opportunities. In this context, skill development has become a key priority area for the country.
India being one of the youngest nations in the world, with more than 54% of the total population below 25 years of age and over 62% of the population in the working age group (15-59 years), the country’s population pyramid is expected to bulge across the 15-59 age groups over the next decade. This demographic advantage is predicted to last only until 2040. India therefore has a very narrow time frame to harness its demographic dividend and to overcome its skill shortages
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