Challenges and opportunities
Globalisation has created an unprecedented demand for a skilled workforce that is responsive to emerging market needs and is equipped with knowledge. India is no exception to this development. International companies across industries are opening up operations in India. As Indian employers compete with the best in the world, they will increasingly demand the best-trained personnel.
In the medium term, India's surplus labour will coincide with labour shortages in many parts of the world, giving it a chance to provide the workforce for the world. But we can do this only if its trained personnel meet the quality standards demanded internationally. Thus, acquisition of skills is the future of the Indian job market and its global economic clout.
Although the Indian economy has experienced rapid growth in recent years, the low levels of education and formal training of the workforce are a matter of concern. It is becoming increasingly important that we focus on expanding vocational training to enhance skills that are relevant to the emerging economic environment.
Skills and knowledge are the driving forces of economic growth and social development of any country. The economy
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