The FINANCIAL -- A
new study from the National Skill Development Corporation (NSDC) and
Accenture released found that private funding and
public-private partnerships are helping India overcome two of the
largest challenges to vocational education training: an inadequate
infrastructure and a shortage of job offers.
The study identifies five steps business and government can take to better support vocational trainees and helps meet India’s goal of engaging 500 million trained youth by 2022, according to Accenture.
Vocational education training (VET) must provide prospective employees with the skills required to support the next generation of economic growth in manufacturing, retail, construction and tourism, according to the study. Addressing the rise in the number of VET trainees who do not accept job offers or leave jobs within one month of employment is critical, the research shows.
“This action plan dovetails with India’s Five Year Plan targets. By tapping younger candidates for training from rural, low-income locations, empowering them with employable skills and building their career s in important growth sectors such as manufacturing can help India meets its goals of inclusive, accelerated and sustainable growth,” said Nilaya Varma, managing director, Accenture’s Health & Public Service practice in India.
The Indian government created the NSDC in 2009 to work with private-sector companies and organizations and 17 union ministries to ensure that an additional 500 million people would have the skills necessary to be productively employed by 2022. Under the NSDC network more than 2,500 physical and mobile training stations have been created to date to support VET trainees in 352 districts across the country.
“About to be home to one-fifth of the world’s working-age population, India’s path to becoming a high performing nation will be shaped by its ability to impart scalable, market-relevant business and vocational skills to its youth. It is encouraging to witness how these schemes are influencing skills development, helping to provide the necessary skills to the next generation of workers,” said Dilip Chenoy, managing director and CEO, NSDC.