In India the Government has an ambitious target of skilling 500 million by 2022. Currently the system has the capacity to train only 3 million youth against 12 million entering the labour force annually.
Currently, 90% of the jobs in India are skill-based, a sharp contradiction to the current figure of only 6% trained workforce in India. Skills sector is expected to become an over $20bn market opportunity yearly (stated in Kotak Securities report 2011). The Government aims to increase this training capacity to 15 mn/year by setting up new 1,500 ITI/ITCs and 50,000 skills development centres to be promoted in the PPP mode.
National Skill Development Policy 2009 has mandated NSDC to constitute Sector Skills Councils (SSCs) in India. The objective is to establish 28 Sector Skills Councils. SSCs are national partnership organisations that bring together all the stake holders – industry, labour and the academia for the purpose of workforce development for particular industry sectors. SSCs will be autonomous bodies registered either as Section 25 companies or public limited companies. The Government will provide the initial funding. Subsequently SSCs will become self sustaining organisations. NSDC has incorporated SSCs for Automotive, Security and Energy sectors. SSCs for Retail, Media & Entertainment and IT/ITES have been approved by NSDC Board and Healthcare, Foundry, BFSI and Electronics & Hardware are under consideration.
Digitization, AI and globalization are disrupting the status quo at an unprecedented pace in every industry. If one looks at what is happening with Transportation (on-demand, electric, driver-less), Commerce (online, on-demand, personalized), Healthcare (AI assisted diagnosis), etc. – the future is very uncertain, and yet full of opportunities for those who can adapt.