Skill Enhancement and Demographic Dividend
Young Population: 75% of India comprises of working-age population, development of a skilled and educated workforce will play a significant role in enhancing its overall economy.
Labour Shortage and Income Loss: According to the International Labour Organisation (ILO), India is likely to face shortage of around 29 million skilled personnel by 2030.
- Following this, Accenture in 2019 predicted that if India does not take timely actions—such as invest in new technologies or build industry-required skills—the skill deficit could cost the country US$ 1.97 trillion in terms of gross domestic product (GDP) over the next decade.
Impact of Government Initiatives: According to data from ....
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