Skill development in india: A study on the relation to The employment Generation

Abstract

Skills and information are key drivers of macroeconomic growth and stability of a country. As India is one of the fastest growing countries in the world, predicted  to be 3rd largest economic in the world by 2030, blessed with huge percentage of  youth that constitute India’s population. India is bound to achieve endless  possibilities. But, most of youth of India are not fully skilled as per the requirements  of the industry and this is a major concern in India’s economic growth. Skills and  knowledge are the key factors in order to overcome such hurdle and helping India  to embark on road of endless growth. For this skill development is a necessity, as  it not only helps in youth of the country to acquire necessary skills but also helps  in economic development of a country. Appropriate policies for skill development  occupy a most important place in the development of the economy. Government of  India has taken several skill development initiatives in the recent past years.  Initiatives like “Skill India” “Make in India” etc and many departments like  “Ministry of micro, small and medium enterprise (MSME)” “National skill  development coordination board (NSDC)” by our government to boost the necessity  of acquiring new skills and polishing existing skills and help youth of the country  in acquiring skills and developing them. Skill development would also help in  reducing the unemployment level in the country, as it would help youth to hone the  necessary skills for employment they seek for. In this research paper, we aim to do  an in-depth study of skill development in India along with various challenges faced  by it, also focusing on the key factors for successful skill development. The Study  is Primary and secondary based with the help of Questionnaire and various journal and articles. Questionnaire was created for this research paper with which the  required data was collected, analysed and in-depth study was done.