The de facto accepted target by government and industry alike is that India has to skill 500 million people over the next 10 years to maintain a healthy 9 to 10 per cent growth. Herein lie both the opportunity and the challenge. In spite of the obvious demand for skilled workers, there is an inherent stigma with vocational training for most people. As my friend Anubhav Singh, banker, social observer and philosopher put it succinctly, in a country where education is undertaken for the sake of education or for “class upgradation”, people continue to opt for degrees that do not necessarily lead to jobs.
The government is recognizing the need to bring changes to the existing education system and is also planning to introduce mechanisms that allow for structured movement between vocational and academic studies. But these changes are yet to be incorporated. Companies are struggling to find quality talent at entry level positions. This skill gap is the window of opportunity for private players in the skilling industry. In this journey, private players will have to identify early on as to who their real customer is (employer or candidate), how their business model can they get the quality-cost-scale balance right, and most importantly, who is going to pay for the skilling programs. This journey is a marathon where only those with the muscle to sustain in the game long enough will stand to see the fruits of their efforts.
In this cover story, People Matters attempts to give a snapshot of the entrepreneurial side of the industry of skilling: its players, its challenges and its opportunities. Skilling: In Need of Synchrony is a continuation of our editorial efforts to capture this segment's journey year-on-year.
Read complete cover story in People Matters - http://peoplematters.in/articles/cover-story/cover-story-indias-skilling-industry-in-need-of-synchrony
