Skilling 100mn people can raise GDP by 20%
50% of India’s young informal workforce and those outside it are willing to upskill to bridge India’s employability gap: Redseer
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New Delhi: Bringing 100 million skilled people to the Indian workforce has the potential to increase the country’s GDP by 20 per cent and propel the economy towards $4 trillion, a report showed on Tuesday.
Almost 50 per cent of India’s young informal workforce and those outside it are willing to upskill to bridge India’s employability gap, according to the report by investment firm Omidyar Network India with research partner Redseer.
”The ministry has undergone a tectonic shift, moving away from a one-size-fits-all approach to integrate the DNA of crafting targeted solutions that cater to the diverse needs of different industries,” said Atul Kumar Tiwari, Secretary, Ministry of Skill Development and Entrepreneurship.
“Our focus is directed towards nurturing digital skills, fostering innovative thinking and cultivating problem solving abilities,” he added.
The report studied 580 million individuals who require skilling and employability support by dividing them into 8 personas based on annual household incomes (ranging from Rs <1.5 lakh to 8 lakh) and type of employment.
