Abstract
In recentyears, India has witnessed rapid economic growth through the development ofnew-age industries. The increase in purchasing power leads to a demand for newservice quality levels. According to the National Skills DevelopmentCorporation (NSDC), skills can be divided into four levels based on the leveland duration of training required. Level 1 semi-skilled refers to skills thatcan be acquired through short courses, focused interventions and on-the-jobtraining, and Level 2 Skills refers to professional-specific skills that can beacquired through technical or vocational training. Level 3 high skills arethose that involve high technical or commercial level operations, achievablenotwithstanding degrees, diplomas and postgraduate education. As thestructural, demographic and technological landscape transforms India's economyand forms of work, new entrants to the labour market must be skilled andemployable. By 2023, about 70 million additional persons of working age (15-59years) are expected to join the country's labor force - using the sameestimated model, the total workforce will then include million people.According to our analysis of the Periodic Labor Force Survey (PLFS) 2017-2018,it will cover 59 million young people (individuals aged 15-30 years).Strategies for redeveloping and enhancing the skills of the current workforce,as well as formal recognition of informally acquired skills, also need to bestrengthened.
Published Version
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call