India's skilled work force challenges and opportunities

India is a country of 1.40 billion people, which is expected to grow to 1.7 billion by 2050. The increasing population is seen as a problem due to the limited number of resources available in the country. However, there is some relaxing news on the population front as the latest National Family Health Survey (NFHS-5) reveals that India’s population has started decreasing. This is great news for the country as it can help to balance out the demand and supply of resources.
Moving on to the education scenario in India, the literacy rate has increased significantly to 77.7%, which is a massive achievement for the country. However, when it comes to skill development, there is still a long way to go. According to the India Skills Report 2021, only 45.9% of young people in India are considered employable. This number has remained consistent for the past few years, indicating the need for urgent measures to improve the quality of education in the country.
One of the main reasons for the skill gap in India is the lack of quality education. Private institutes in the country are educating students in various streams like engineering, management, and medical education, but the quality of education cannot be benchmarked with standards of quality education. These colleges are either run by politicians or state-run governments where standards of education are kept a little low. Barring a few colleges, the majority of the colleges are below the standard mark, which is a matter of concern.
The IT industry in India is facing its own set of challenges, including a dearth of talent and retention of trained manpower. A survey conducted by Skillsoft’s 2022 IT Skills and Salary Report found that the top factors driving skills gaps are difficulties in hiring skilled candidates, employee retention, and a lack of investment in training. This situation needs to be addressed urgently to ensure that the industry has the necessary talent pool to meet its growing demands.

Moreover, the ‘National Employability Report for Engineers 2019’ has revealed that over 80% of engineers in India are unfit to take up any job in the knowledge economy. This highlights the need for an immediate focus on skill development and bridging the gap between industry requirements and education. The report also found that there is a significant difference between the skill sets of skilled versus unskilled workers in India, which is a matter of concern.
On a positive note, the scope of digital marketing in India is picking up really well, given its immense potential. With increasing data speed and 5G roll-out, Indians can access data really fast. According to the report published by the Internet and Mobile Association of India (IAMAI), there are currently 692 million active internet users in India, including 351 million from rural India and 341 from urban India. The report estimates that there will be 900 million internet users in India by 2025. This presents a significant opportunity for growth and development in the digital marketing space.
In conclusion, India has made significant progress in terms of population growth and education, but there is still a long way to go to bridge the skill gap and meet industry requirements. Urgent measures need to be taken to improve the quality of education, focus on skill development, and address the challenges faced by the IT industry. However, with the growing scope of digital marketing and the increasing number of internet users in India, the future looks bright, and there is a lot of potential for growth and development in the country.

As per the report (one of the companies of Info-edge India Ltd, of which is also a part)

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