Maharashtra Governor C Vidyasagar Rao informed that the state government has set a target of training 4.5 crore youth in employable skills under the National Skill Development Mission by 2022.
Calling youth the future of this nation, he said this will help in creating 45 lakh skilled people every year.
He emphasized the need to provide this youthful manpower with skills and ability to tackle global challenges. The mission assumes significance as India currently faces a severe shortage of well-trained, skilled workers. It is estimated that only 2.3% of the workforce in India has undergone formal skill training as compared to 68% in the UK, 75% in Germany, 52% in USA, 80% in Japan and 96% in South Korea. Large sections of the educated workforce have little or no job skills, making them largely unemployable. Therefore, India must focus on scaling up skill training efforts to meet the demands of employers and drive economic growth.
According to sources, more than 54 percent of the country’s population is below the age of 25 allowing it with an opportunity to provide a skilled workforce to fill the expected shortfall in the ageing developed world.
The country’s population pyramid is expected to bulge across the 15–59 age group over the next decade. This demographic advantage is predicted to last only until 2040. India, therefore, has a very narrow time frame to harness its demographic dividend and to overcome its skill shortages.