Today, the world needs a skilled workforce. If we have to promote the development of our country, then our mission has to be ‘skill development’ for a ‘skilled India’. The only way India can progress with great alacrity is through widespread skill acquisition by youth. It is very important to create a pool of young people who are able to create job opportunities for themselves as well as the community they live in. The ones who are not able to create jobs must be in a position to face their counterparts in any corner of the world while keeping their heads high by virtue of their dexterity and hard work. Young people must be skilled enough to be able to win the hearts of people around the world. The way forward for the country’s overall development is entrepreneurial training. Entrepreneurship education enables young minds to master the skills of the future. With an uncertain future ahead owing to numerous reasons such as technological advancements and population growth, entrepreneurship can be seen as a significant career option for the current generation.
Today, India is one of the youngest nations in the world with more than 62% of its population in the working-age group (15-59 years), and more than 54% of its total population below 25 years of age. The country’s population pyramid is expected to bulge across the 15-59 age group over the next decade. It is further estimated that the average age of the population in India by 2020 will be 29 years as against 40 years in the USA, 46 years in Europe, and 47 years in Japan. In fact, over the next two decades, the labor force in the industrial sector is expected to decline by 4% worldwide, whereas, in India, it is projected to increase by 32%. Though this poses a formidable challenge, it also presents a huge opportunity. In order to nurture the demographic dividend which is expected to be productive for the next 25 years, India needs to equip the workforce with employable skills and knowledge so that they can contribute substantially to the economic growth of the country.
Our country presently faces a dual challenge. On one side, there is a paucity of a highly trained workforce, on the other side, there is a large section of conventionally educated yet unemployable youth that possess little or no job skills. The Ministry for Skill Development and Entrepreneurship (earlier Department of Skill Development and Entrepreneurship notified in July 2014) was set up in November 2014 to give a fresh impetus to the Skill India movement and help create an appropriate ecosystem that facilitates imparting employable skills to India’s growing workforce over the next few decades. Apart from meeting its own demand, India has the potential to provide a skilled workforce to fill the expected shortfall in the aging developed world. As our country moves progressively towards becoming a global knowledge economy, it must meet the rising aspirations of youth. This can be partially achieved by focusing on the advancement of skills that are relevant to the emerging economic environment. The challenge is not only to establish large-scale skill training centers but also to enhance the quality of training.
Skills and knowledge are the driving forces of economic growth and social development for any country. Countries where the youth have higher-order skills, adjust more effectively to the challenges and opportunities in domestic and international job markets. While there is a dire need to impart entrepreneurship skills to young minds, it is also incredibly challenging to teach these skills. Entrepreneurs are the ones who know how to think critically and approach problems in a way to understand and resolve, rather than get overwhelmed. It is important to differentiate between problem-solving and problem identification. While a problem-solving approach may be developed with practice, the ability to identify a problem in advance and take necessary steps to deal with it differentiates a successful entrepreneur from the rest.
The young generation is living in a rapidly changing world and is equipped with more technical knowledge than ever before. The future belongs to innovators and leaders who can identify the gaps in the economy and convert them into opportunities. It is imperative for India’s education system to adapt to the rapidly advancing economic ecosystem to empower youngsters with a skillset that can withstand the waves of change. The way forward is equipping young people with entrepreneurial skills that can help them adapt to the various stages of their career journey. Entrepreneurial learning programs will emerge as path-breakers and trendsetters proving to be a stepping stone for career success for generations to come.
