World over, as the demand for skilled labour increases, India’s surplus youth population is in an excellent position to fill these positions. With more than 50% of India’s current population below the age of 25 and over 65% below the age of 35, the demographics are opening up new economic opportunities.
But the country can do this only if its trained personnel meet the quality standards. Thus, if working-age people can be productively trained and employed, India’s economic growth stands to accelerate. Needless to say, the major benefit is that it comes with a certain employment guarantee for India’s working-age population.
Policy choices can potentiate India’s realization of economic benefits stemming from demographic change. In the Union Budget 2012-13 the government has doubled its allocation of funds for skills development under the National Skill Development Fund (NSDF) to Rs 1,000 crore, raising the corpus of the fund to Rs 2,500 crore.
The key question now is how we can ensure to get a larger population trained.
The National Skills Development Corporation (NSDC) has identified over 21 key sectors (including the unorganised sector) that will be of particular importance. Of these, manufacturing , textile, construction, automotive, retail and healthcare are key. It will also have to ensure that it provides the ‘green’ skills needed to make the transition to greater sustainability so that India can ensure that it can meet modern economic demands. In the short-term, training skills are most needed so that quality training is available at the scale required to meet the country’s ambitions.
Every field needs a leader to be guided to the right destination. Ennovent and the Power to Empower competition is providing this leadership opportunity to entrepreneurs to help them equip India with the right set of skills.
If you or someone you know has created innovative and sustainable solutions in skill building for India, apply for the Power To Empower Competition and grab your chance to win
- National visibility: Promotion through websites, social media and blog stories
- Network opportunities: Introductions to investors, high-profile event passes
- Non-financial support: Access to renowned experts, training courses
One national and five regional (East, West, North South & Central) winners for the Idea Category will receive national visibility through websites, social media and blog stories.
Categories:The different categories and sub-categories are:
- Idea: Students and entrepreneurs with an idea in skills space
- Business Plan: Students and entrepreneurs with a for-profit plan in skills space