India 2010, skill capital of the world
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Without doubt the Indian economy over the last years has been growing at a stupendous pace. There is no looking back! Globalization is leading to increasing international standardization of educational challenges and systems. Globalization and technological changes has accelerated at an unprecedented pace, accordingly and going forward the development of skills through training should be the strategic response to technological change, globalization and other forces affecting the labor markets. Overall with the introduction of new technologies has reduced the demand for unskilled labor and raised the value of advanced skills and competencies in the industrialized economies. The new generation of technology, especially the information and communications technologies and certain manufacturing processes will have an effect on productivity and on the demand for workers with higher-level skills and broader workplace competencies, particular the ones who command higher wages. In India over the years new policy initiatives are taking....
Need transparency to boost private education
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Taking meaningful, relevant education to the doorstep of every youth is the critical need of the hour if India has to achieve its target of being a superpower in the near future. According to a McKinsey report, approximately 5 million unemployed graduates are available in the country yet industry faces a severe talent crunch while recruiting skilled personnel. Employers are able to select only 8-9 people out of 100 people who apply due to lack of desired skill sets. More than 80 per cent of the graduates lack in competencies which could make them employable. Therefore, there the industry clearly expects the Government to announce a Budget which would respond to the need for building employable youth in the country, key to driving economic growth. What would incentivise stakeholders to offer a robust, dynamic curriculum, deploy globally tested, interactive teaching methodologies, enhance reach of industry- oriented education....
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Sanjeev Duggal is the CEO and Executive Director of Centum Learning Limited
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