India’s 1.2-billion population, 60% are of the working age. Of the 12 million individuals who join the queue of job seekers every year, only 4% undergo vocational training. It is widely believed by experts that India’s emergence as a strong global economy and to be firmly entrenched in the ‘Top-3”, will be driven by this youth power.
It is estimated that a mere 4.69% of the total workforce in India has undergone formal skill training of any sort compared to 68% in the UK, 75% in Germany, 52% in the US, 80% in Japan and 96% in South Korea.
103M in infrastructure
35M in Auto and Auto components
33M in Building & Construction
26.2M in Textile & Clothing
17.7M in Transport & Logistics
17.3M in Organised Retail
14M in Real Estate services
12.7M in Healthcare
9.3M in food processing
5.8M in Educaiton & Skill development services
Current Solution Set a. Skilling (Multiple service providers)
Working closely with ITI: Adopting and mentoring select ITIs to upgrade curriculu and training methods in tune with market needs
One the job training: Scalable model for apprenticeship on the job training
Vocational education: Vocational education as a part of school curriculum
Assessment and counseling: Counselling model that assesses the capabilities of the youth and recommends appropriate short- and mid-term career opportunities and a long-term career path.
Fostering entrepreneurship: Seed funding for entrepreneurs and facilitating mentorship programs between their senior leaders and entrepreneurs.
Up-skilling the existing workforce: up-skilling workers towards better productivity, wages and career progression.
Skilling persons with disability: Finding gainful employment for such youth in the market
Supporting scaling innovation: Identify and support innovations from across the ecosystem that are poised for scale.