Skill India: Creating a strong pool of trained manpower

The Government of India plans to set up skill development centres across India with an investment of Rs 12,000 crore (US$ 1.76 billion) to create job opportunities for 10 million individuals by 2020 under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY). The Ministry of Labour and Employment also plans to set up Model Career Centres (MCC) across the country. Out of the 950 employment exchanges in India, 100 would be developed as model centres with an investment of Rs 350 crore (US$ 51 million). 

In another related recent development, India's total labour force is expected to increase by 160-170 million by 2020, based on population growth rate, increased labour force participation, and education enrolment at higher levels, among other factors, according to a study by ASSOCHAM and Thought Arbitrage Research Institute. Overall, the labour force increased from around 337 million in 1991 to around 488 million in 2013 - an expansion of 151 million in the labour force in roughly 22 years. Considering the expected increase in the domestic labour force, the initiatives to boost skill development in the country are in the right direction and are expected to result in creating more attractive job opportunities for Indian youth. 

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