India launches mission to skill 400 million by 2022

New Delhi: Prime Minister Narendra Modi on Wednesday launched his government's another ambitious scheme the National Skill Development Mission to train 400 million Indians by 2022.

"If China is known as world's manufacturing factory, India can be world's human resource capital," Modi told a packed audience in New Delhi. The prime minister was referring to 65 per cent of India's population which is below the age of 35 years. Modi said Indians should be ready to replace the diminishing workforce in other countries. "We have to scientifically map the world's manpower requirement and prepare accordingly," he added.

The government also launched the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), skill loan scheme and the national policy for skill development and entrepreneurship 2015 on the World Youth Skill Day. Under the skill loan scheme, youth can avail credit between Rs 5,000 and Rs 150,000 to attend skill-related training programme. Modi stressed the need for more ITI institutes in the country.

The government estimates an incremental requirement of 110 million additional skilled personnel across 24 sectors by 2022. The demand will be highest in real estate, transport, retail and beauty and wellness sectors. But the agricultural sector will see a negative growth with 24.8 million people moving to other jobs.

The Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) has announced nearly a dozen schemes, including Digital India, Make in India, Jan Dhan and Swachh Bharat since it took over in May last year. Speaking at the launch, Finance Minister Arun Jaitley said Indian economy was looking up and there would be a huge manpower requirement in services and manufacturing sectors.

"With economy recovering and picking up, with wages in our other competitive economies increasing hugely compared to the Indian economy, our opportunities are great. And when Make in India and Skilling India will converge, no doubt we would have a great future ahead of us," Jaitley said.

Besides Jaitley and other Cabinet ministers, chief ministers from various BJP or its alliance-run states were also present at the occasion.

The industry also wasted no time to announce its support and participation. While the NIIT Limited committed to train 10 million young Indians across 16 sectors over the next five years, Tata Housing announced that it would provide vocational skill development training to 100,000 socio-economically backward youth across the nation by 2024.

"Around 50 per cent of our population is below 27 years. We are talking about 700 million such youngsters by 2020. This is the first time in the history of humankind such a large population is actively seeking livelihood and employment opportunities. Skill India gives youngsters the most important aspect for their life, employability and respect in society. Skill India will get India the most important asset of this century manpower," Narayanan Ramaswamy, partner and head of education and skill development, KPMG in India said in a statement.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.