Mains Marathon 2024

Approach Give a brief definition of skill development with its significance. Discuss the need to invest in skill development in India. Conclude Suitably.

Introduction

Skill development refers to the process of identifying, enhancing, and refining an individual’s abilities and competencies to perform specific tasks or activities effectively. It encompasses various forms of training, education, and hands-on experience aimed at equipping individuals with the necessary skills required for various sectors of the economy. Investing in skill development is crucial for national development as it directly contributes to economic growth, social equity, and global competitiveness.

Body

Need for investing in Skill development in India:

• Economic Growth: A well-trained workforce enhances productivity, innovation, and competitiveness, contributing to the overall growth of various sectors.
  • The Indian economy is poised to hit $7.3 trillion by 2030 and $10 trillion mark by 2035 (according to the Centre for Economics and Business Research)
• Employment Generation: A skilled workforce is essential for creating job opportunities. Skill development initiatives can bridge the gap between job seekers and employers, reducing unemployment rates and fostering economic stability.
  • The India Skill Report 2023 indicates an improvement in overall employability among young people, increasing from 46.2% to 50.3%
• Renewable Energy and Green Technologies: The renewable energy sector stands at the forefront of India's sustainable development agenda, driven by the ambitious target of 500 GW capacity by 2030.
  • It promises to create over 3.5 million jobs, demanding a workforce skilled in solar, wind, and energy storage technologies.
• Artificial Intelligence and Machine Learning: India's AI market, projected to reach USD 7.8 billion by 2025, is reshaping industries and creating new paradigms of work.
  • The IndiaAI Mission is a commendable start, but the dynamic nature of AI demands continuous upskilling and reskilling.
• Internet of Things and Smart Cities: The convergence of IoT and smart city initiatives is driving India towards a more connected, efficient future.
  • With the IoT market set to reach USD 9.28 billion by 2025 and plans for 100 smart cities, the demand for skills in IoT programming, data security, and integrated urban planning is soaring.
  • The Smart Cities Mission has catalyzed this growth, but there's a pressing need for multidisciplinary skill development programs.
• Electric Vehicles and Sustainable Mobility: India's ambitious goal of 30% electric vehicles by 2030 is set to revolutionize the automotive sector, potentially creating 10 million direct jobs.
  • This transition demands an expertised workforce in battery technology, charging infrastructure, and autonomous systems.
• Biotechnology and Pharmaceutical Sciences: India's biotech industry, projected to reach USD 150 billion by 2025, stands at the cusp of a major breakthrough.
  • The Covid-19 pandemic has underscored the critical need for a skilled workforce in genomics, bioinformatics, and vaccine development.
  • While the Department of Biotechnology has launched collaborative programs with industry partners, the sector demands a more robust skill development ecosystem.
• Space Technology and Satellite Communications: India's space economy, set to touch USD 13 billion by 2025, is entering a new era with the opening up of the sector to private players.
  • This expansion creates a demand for skills in satellite design, space debris management, and reusable space assets.
• Cybersecurity: With India facing over 18 million cyber-attacks in a year, the importance of cybersecurity cannot be overstated.
  • Therefore, India urgently needs professionals skilled in ethical hacking, network security, and cyber forensics.
• 3D Printing and Additive Manufacturing: The India 3D printing market is anticipated to grow at a high CAGR of 20.3% from 2023 to 2030.
  • It is set to revolutionize manufacturing processes across industries. This emerging field demands expertise in Computer-aided design (CAD) modeling, material science, and quality control for additive manufacturing.
• Quantum Computing: India's commitment to quantum technologies, evidenced by the ₹8,000 crore allocation to the National Mission on Quantum Technologies and Applications, signals a major push into this cutting-edge field.
  • The sector demands highly specialized skills in quantum algorithms, cryptography, and error correction.
• Innovation and Entrepreneurship: India, with 111 unicorns valued at a total of USD 349.67 billion, highlights the crucial role of skilled manpower in fostering innovation and entrepreneurship.
• Global Competitiveness: With globalization, India needs a skilled workforce to compete effectively in the international market. A well-trained workforce can enhance India's position in global supply chains and attract foreign investments.
  • Total FDI inflows in the country in the FY 2023-24 is USD 70.95 Bn.
• Social Empowerment: Skill development plays a significant role in empowering marginalized communities, particularly women and underprivileged groups. By providing them with skills, India can promote inclusivity and reduce socio-economic disparities.
  • The female labor force participation rate increased to 37% in 2022-23.

Conclusion

Skilled manpower is crucial for India’s journey towards becoming a global economic powerhouse. By improving education quality, fostering industry-academia collaborations, promoting vocational training, and providing policy support, India can effectively tap into its skilled manpower potential, driving economic growth and global competitiveness.