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  • 8/7/2019 sgvdjsjd

    1/17

    The downside of Indias Economic growth

    by Aseem Rastogi

    email print share

    India has emerged as the 2nd

    fast growing economy after China and has been at the forefront

    of emerging out of the recession at breakneck speed. The growth rate has jumped from 6.5

    percent in 2009 to close to 9 percent this year. I just spoke yesterday about how Pay Packages

    are growing, the number of jobs available in the market is growing, FII is increasing like

    never before and even companies are hiring in hordes The economy is in the log phase of

    growth. This is all great, but too much growth also has its own downside.

    The biggest advantage of too much growth could be the biggest downfall which could

    lead to de-growth. What a paradox, isnt it?

    Very high growth rates have the potential of creating around 10-15 million jobs across the

    country across sectors. Around 90% of these jobs would require skilled people at theforefront. And for that a lot of vocational training is required which requires cost.

    But are there really so many skilled people?

    Millions of candidates across the country graduate every year. But less than 2-3% of those

    are directly employable. What a sad ratio, isnt it?

    The growth over the next couple of years is expected to be the highest in the services sector

    industries like IT/ ITes, Biotechnology, Hospitality, HR etc. Since these sectors are

    continuously evolving and as the service sector pie in the GDP increases to more than 65%,

    the manpower required would have to be readily upgrade their skills on all fronts.

    Job generating service sectors (January-November 2010)

    SectorsGrowth in %age as compare to the

    2009 Share in %age

  • 8/7/2019 sgvdjsjd

    2/17

    IT/ Enabled 31.9 40.3Academics 85.5 12.4Engineering 110.4 5.6Insurance 19.9 5.0Hospitality 38.2 3.3Biotechnology 46.0 2.7HR 16.7 2.5

    Indias growth has always been attributed to its youth. But sadly it is this youth which is

    found lacking in the basic skills required to do their duties for everyday work.

    What can be done?

    There has always been stress on industry academia interaction. But sadly it has become

    somewhat of a marketing tool used by all colleges to promote their brand. Instead of the

    interaction, probably organizations could designate certain colleges for starting courses

    related to their field. For eg: Future Group has some retail courses running in few colleges.

    Perks, salary hikes, promotions etc. which have already started as the economy improves arean easier way of getting the right people for the job. Since a Nobel Prize winning study

    concludes that unemployment exists in a large amount because people are not willing to work

    rather than not getting work, this could be an important tool to motivate them.

    Another big requirement is the thrust on vocational and skill based training That is the needof the hour. Even if we are able to train one tenth of unskilled working population, it will

    make a huge positive impact on Economic growth.

    There are opportunities galore for people in the country! Its just that the right skilled

    workforce has to put their hands up!!

    The downside of Indias Economic growth

    by Aseem Rastogi

    email print share

    India has emerged as the 2nd

    fast growing economy after China and has been at the forefront

    of emerging out of the recession at breakneck speed. The growth rate has jumped from 6.5percent in 2009 to close to 9 percent this year. I just spoke yesterday about how Pay Packages

    are growing, the number of jobs available in the market is growing, FII is increasing like

    never before and even companies are hiring in hordes The economy is in the log phase of

    growth. This is all great, but too much growth also has its own downside.

    The biggest advantage of too much growth could be the biggest downfall which could

    lead to de-growth. What a paradox, isnt it?

    Very high growth rates have the potential of creating around 10-15 million jobs across thecountry across sectors. Around 90% of these jobs would require skilled people at the

    forefront. And for that a lot of vocational training is required which requires cost.

  • 8/7/2019 sgvdjsjd

    3/17

    But are there really so many skilled people?

    Millions of candidates across the country graduate every year. But less than 2-3% of thoseare directly employable. What a sad ratio, isnt it?

    The growth over the next couple of years is expected to be the highest in the services sector

    industries like IT/ ITes, Biotechnology, Hospitality, HR etc. Since these sectors are

    continuously evolving and as the service sector pie in the GDP increases to more than 65%,

    the manpower required would have to be readily upgrade their skills on all fronts.

    Job generating service sectors (January-November 2010)

    SectorsGrowth in %age as compare to the

    2009 Share in %age

    IT/ Enabled 31.9 40.3Academics 85.5 12.4Engineering 110.4 5.6Insurance 19.9 5.0Hospitality 38.2 3.3Biotechnology 46.0 2.7HR 16.7 2.5

    Indias growth has always been attributed to its youth. But sadly it is this youth which is

    found lacking in the basic skills required to do their duties for everyday work.

    What can be done?

    There has always been stress on industry academia interaction. But sadly it has becomesomewhat of a marketing tool used by all colleges to promote their brand. Instead of the

    interaction, probably organizations could designate certain colleges for starting courses

    related to their field. For eg: Future Group has some retail courses running in few colleges.

    Perks, salary hikes, promotions etc. which have already started as the economy improves are

    an easier way of getting the right people for the job. Since a Nobel Prize winning study

    concludes that unemployment exists in a large amount because people are not willing to work

    rather than not getting work, this could be an important tool to motivate them.

  • 8/7/2019 sgvdjsjd

    4/17

    Another big requirement is the thrust on vocational and skill based training That is the needof the hour. Even if we are able to train one tenth of unskilled working population, it will

    make a huge positive impact on Economic growth.

    There are opportunities galore for people in the country! Its just that the right skilledworkforce has to put their hands up!!

    The downside of Indias Economic growth

    by Aseem Rastogi

    email print share

    India has emerged as the 2nd fast growing economy after China and has been at the forefront

    of emerging out of the recession at breakneck speed. The growth rate has jumped from 6.5percent in 2009 to close to 9 percent this year. I just spoke yesterday about how Pay Packages

    are growing, the number of jobs available in the market is growing, FII is increasing like

    never before and even companies are hiring in hordes The economy is in the log phase ofgrowth. This is all great, but too much growth also has its own downside.

    The biggest advantage of too much growth could be the biggest downfall which could

    lead to de-growth. What a paradox, isnt it?

    Very high growth rates have the potential of creating around 10-15 million jobs across thecountry across sectors. Around 90% of these jobs would require skilled people at the

    forefront. And for that a lot of vocational training is required which requires cost.

    But are there really so many skilled people?

    Millions of candidates across the country graduate every year. But less than 2-3% of those

    are directly employable. What a sad ratio, isnt it?

  • 8/7/2019 sgvdjsjd

    5/17

    The growth over the next couple of years is expected to be the highest in the services sectorindustries like IT/ ITes, Biotechnology, Hospitality, HR etc. Since these sectors are

    continuously evolving and as the service sector pie in the GDP increases to more than 65%,the manpower required would have to be readily upgrade their skills on all fronts.

    Job generating service sectors (January-November 2010)

    Sectors Growth in %age as compare to the2009 Share in %age

    IT/ Enabled 31.9 40.3Academics 85.5 12.4Engineering 110.4 5.6Insurance 19.9 5.0Hospitality 38.2 3.3Biotechnology 46.0 2.7HR 16.7 2.5

    Indias growth has always been attributed to its youth. But sadly it is this youth which is

    found lacking in the basic skills required to do their duties for everyday work.

    What can be done?

    There has always been stress on industry academia interaction. But sadly it has become

    somewhat of a marketing tool used by all colleges to promote their brand. Instead of the

    interaction, probably organizations could designate certain colleges for starting courses

    related to their field. For eg: Future Group has some retail courses running in few colleges.

    Perks, salary hikes, promotions etc. which have already started as the economy improves are

    an easier way of getting the right people for the job. Since a Nobel Prize winning studyconcludes that unemployment exists in a large amount because people are not willing to work

    rather than not getting work, this could be an important tool to motivate them.

    Another big requirement is the thrust on vocational and skill based training That is the needof the hour. Even if we are able to train one tenth of unskilled working population, it will

    make a huge positive impact on Economic growth.

    There are opportunities galore for people in the country! Its just that the right skilled

    workforce has to put their hands up!!

    The downside of Indias Economic growth

    by Aseem Rastogi

    email print share

    India has emerged as the 2nd fast growing economy after China and has been at the forefront

    of emerging out of the recession at breakneck speed. The growth rate has jumped from 6.5percent in 2009 to close to 9 percent this year. I just spoke yesterday about how Pay Packages

    are growing, the number of jobs available in the market is growing, FII is increasing like

    never before and even companies are hiring in hordes The economy is in the log phase of

    growth. This is all great, but too much growth also has its own downside.

  • 8/7/2019 sgvdjsjd

    6/17

    The biggest advantage of too much growth could be the biggest downfall which could

    lead to de-growth. What a paradox, isnt it?

    Very high growth rates have the potential of creating around 10-15 million jobs across the

    country across sectors. Around 90% of these jobs would require skilled people at the

    forefront. And for that a lot of vocational training is required which requires cost.

    But are there really so many skilled people?

    Millions of candidates across the country graduate every year. But less than 2-3% of those

    are directly employable. What a sad ratio, isnt it?

    The growth over the next couple of years is expected to be the highest in the services sector

    industries like IT/ ITes, Biotechnology, Hospitality, HR etc. Since these sectors arecontinuously evolving and as the service sector pie in the GDP increases to more than 65%,

    the manpower required would have to be readily upgrade their skills on all fronts.

    Job generating service sectors (January-November 2010)

    SectorsGrowth in %age as compare to the

    2009 Share in %age

    IT/ Enabled 31.9 40.3Academics 85.5 12.4Engineering 110.4 5.6Insurance 19.9 5.0Hospitality 38.2 3.3Biotechnology 46.0 2.7

    HR 16.7 2.5

    Indias growth has always been attributed to its youth. But sadly it is this youth which is

    found lacking in the basic skills required to do their duties for everyday work.

    What can be done?

    There has always been stress on industry academia interaction. But sadly it has become

    somewhat of a marketing tool used by all colleges to promote their brand. Instead of the

  • 8/7/2019 sgvdjsjd

    7/17

    interaction, probably organizations could designate certain colleges for starting coursesrelated to their field. For eg: Future Group has some retail courses running in few colleges.

    Perks, salary hikes, promotions etc. which have already started as the economy improves are

    an easier way of getting the right people for the job. Since a Nobel Prize winning study

    concludes that unemployment exists in a large amount because people are not willing to work

    rather than not getting work, this could be an important tool to motivate them.

    Another big requirement is the thrust on vocational and skill based training That is the need

    of the hour. Even if we are able to train one tenth of unskilled working population, it will

    make a huge positive impact on Economic growth.

    There are opportunities galore for people in the country! Its just that the right skilled

    workforce has to put their hands up!!

    The downside of Indias Economic growth

    by Aseem Rastogi

    email print share

    India has emerged as the 2nd

    fast growing economy after China and has been at the forefrontof emerging out of the recession at breakneck speed. The growth rate has jumped from 6.5

    percent in 2009 to close to 9 percent this year. I just spoke yesterday about how Pay Packagesare growing, the number of jobs available in the market is growing, FII is increasing like

    never before and even companies are hiring in hordes The economy is in the log phase ofgrowth. This is all great, but too much growth also has its own downside.

    The biggest advantage of too much growth could be the biggest downfall which could

    lead to de-growth. What a paradox, isnt it?

    Very high growth rates have the potential of creating around 10-15 million jobs across the

    country across sectors. Around 90% of these jobs would require skilled people at the

    forefront. And for that a lot of vocational training is required which requires cost.

  • 8/7/2019 sgvdjsjd

    8/17

    But are there really so many skilled people?

    Millions of candidates across the country graduate every year. But less than 2-3% of thoseare directly employable. What a sad ratio, isnt it?

    The growth over the next couple of years is expected to be the highest in the services sector

    industries like IT/ ITes, Biotechnology, Hospitality, HR etc. Since these sectors are

    continuously evolving and as the service sector pie in the GDP increases to more than 65%,

    the manpower required would have to be readily upgrade their skills on all fronts.

    Job generating service sectors (January-November 2010)

    SectorsGrowth in %age as compare to the

    2009 Share in %age

    IT/ Enabled 31.9 40.3Academics 85.5 12.4Engineering 110.4 5.6Insurance 19.9 5.0Hospitality 38.2 3.3Biotechnology 46.0 2.7HR 16.7 2.5

    Indias growth has always been attributed to its youth. But sadly it is this youth which is

    found lacking in the basic skills required to do their duties for everyday work.

    What can be done?

    There has always been stress on industry academia interaction. But sadly it has becomesomewhat of a marketing tool used by all colleges to promote their brand. Instead of the

    interaction, probably organizations could designate certain colleges for starting courses

    related to their field. For eg: Future Group has some retail courses running in few colleges.

    Perks, salary hikes, promotions etc. which have already started as the economy improves are

    an easier way of getting the right people for the job. Since a Nobel Prize winning study

    concludes that unemployment exists in a large amount because people are not willing to work

    rather than not getting work, this could be an important tool to motivate them.

  • 8/7/2019 sgvdjsjd

    9/17

    Another big requirement is the thrust on vocational and skill based training That is the needof the hour. Even if we are able to train one tenth of unskilled working population, it will

    make a huge positive impact on Economic growth.

    There are opportunities galore for people in the country! Its just that the right skilledworkforce has to put their hands up!!

    The downside of Indias Economic growth

    by Aseem Rastogi

    email print share

    India has emerged as the 2nd fast growing economy after China and has been at the forefront

    of emerging out of the recession at breakneck speed. The growth rate has jumped from 6.5percent in 2009 to close to 9 percent this year. I just spoke yesterday about how Pay Packages

    are growing, the number of jobs available in the market is growing, FII is increasing like

    never before and even companies are hiring in hordes The economy is in the log phase ofgrowth. This is all great, but too much growth also has its own downside.

    The biggest advantage of too much growth could be the biggest downfall which could

    lead to de-growth. What a paradox, isnt it?

    Very high growth rates have the potential of creating around 10-15 million jobs across thecountry across sectors. Around 90% of these jobs would require skilled people at the

    forefront. And for that a lot of vocational training is required which requires cost.

    But are there really so many skilled people?

    Millions of candidates across the country graduate every year. But less than 2-3% of those

    are directly employable. What a sad ratio, isnt it?

  • 8/7/2019 sgvdjsjd

    10/17

    The growth over the next couple of years is expected to be the highest in the services sectorindustries like IT/ ITes, Biotechnology, Hospitality, HR etc. Since these sectors are

    continuously evolving and as the service sector pie in the GDP increases to more than 65%,the manpower required would have to be readily upgrade their skills on all fronts.

    Job generating service sectors (January-November 2010)

    Sectors Growth in %age as compare to the2009 Share in %age

    IT/ Enabled 31.9 40.3Academics 85.5 12.4Engineering 110.4 5.6Insurance 19.9 5.0Hospitality 38.2 3.3Biotechnology 46.0 2.7HR 16.7 2.5

    Indias growth has always been attributed to its youth. But sadly it is this youth which is

    found lacking in the basic skills required to do their duties for everyday work.

    What can be done?

    There has always been stress on industry academia interaction. But sadly it has become

    somewhat of a marketing tool used by all colleges to promote their brand. Instead of the

    interaction, probably organizations could designate certain colleges for starting courses

    related to their field. For eg: Future Group has some retail courses running in few colleges.

    Perks, salary hikes, promotions etc. which have already started as the economy improves are

    an easier way of getting the right people for the job. Since a Nobel Prize winning studyconcludes that unemployment exists in a large amount because people are not willing to work

    rather than not getting work, this could be an important tool to motivate them.

    Another big requirement is the thrust on vocational and skill based training That is the needof the hour. Even if we are able to train one tenth of unskilled working population, it will

    make a huge positive impact on Economic growth.

    There are opportunities galore for people in the country! Its just that the right skilled

    workforce has to put their hands up!!

    The downside of Indias Economic growth

    by Aseem Rastogi

    email print share

    India has emerged as the 2nd fast growing economy after China and has been at the forefront

    of emerging out of the recession at breakneck speed. The growth rate has jumped from 6.5percent in 2009 to close to 9 percent this year. I just spoke yesterday about how Pay Packages

    are growing, the number of jobs available in the market is growing, FII is increasing like

    never before and even companies are hiring in hordes The economy is in the log phase of

    growth. This is all great, but too much growth also has its own downside.

  • 8/7/2019 sgvdjsjd

    11/17

    The biggest advantage of too much growth could be the biggest downfall which could

    lead to de-growth. What a paradox, isnt it?

    Very high growth rates have the potential of creating around 10-15 million jobs across the

    country across sectors. Around 90% of these jobs would require skilled people at the

    forefront. And for that a lot of vocational training is required which requires cost.

    But are there really so many skilled people?

    Millions of candidates across the country graduate every year. But less than 2-3% of those

    are directly employable. What a sad ratio, isnt it?

    The growth over the next couple of years is expected to be the highest in the services sector

    industries like IT/ ITes, Biotechnology, Hospitality, HR etc. Since these sectors arecontinuously evolving and as the service sector pie in the GDP increases to more than 65%,

    the manpower required would have to be readily upgrade their skills on all fronts.

    Job generating service sectors (January-November 2010)

    SectorsGrowth in %age as compare to the

    2009 Share in %age

    IT/ Enabled 31.9 40.3Academics 85.5 12.4Engineering 110.4 5.6Insurance 19.9 5.0Hospitality 38.2 3.3Biotechnology 46.0 2.7

    HR 16.7 2.5

    Indias growth has always been attributed to its youth. But sadly it is this youth which is

    found lacking in the basic skills required to do their duties for everyday work.

    What can be done?

    There has always been stress on industry academia interaction. But sadly it has become

    somewhat of a marketing tool used by all colleges to promote their brand. Instead of the

  • 8/7/2019 sgvdjsjd

    12/17

    interaction, probably organizations could designate certain colleges for starting coursesrelated to their field. For eg: Future Group has some retail courses running in few colleges.

    Perks, salary hikes, promotions etc. which have already started as the economy improves are

    an easier way of getting the right people for the job. Since a Nobel Prize winning study

    concludes that unemployment exists in a large amount because people are not willing to work

    rather than not getting work, this could be an important tool to motivate them.

    Another big requirement is the thrust on vocational and skill based training That is the need

    of the hour. Even if we are able to train one tenth of unskilled working population, it will

    make a huge positive impact on Economic growth.

    There are opportunities galore for people in the country! Its just that the right skilled

    workforce has to put their hands up!!

    The downside of Indias Economic growth

    by Aseem Rastogi

    email print share

    India has emerged as the 2nd

    fast growing economy after China and has been at the forefrontof emerging out of the recession at breakneck speed. The growth rate has jumped from 6.5

    percent in 2009 to close to 9 percent this year. I just spoke yesterday about how Pay Packagesare growing, the number of jobs available in the market is growing, FII is increasing like

    never before and even companies are hiring in hordes The economy is in the log phase ofgrowth. This is all great, but too much growth also has its own downside.

    The biggest advantage of too much growth could be the biggest downfall which could

    lead to de-growth. What a paradox, isnt it?

    Very high growth rates have the potential of creating around 10-15 million jobs across the

    country across sectors. Around 90% of these jobs would require skilled people at the

    forefront. And for that a lot of vocational training is required which requires cost.

  • 8/7/2019 sgvdjsjd

    13/17

    But are there really so many skilled people?

    Millions of candidates across the country graduate every year. But less than 2-3% of thoseare directly employable. What a sad ratio, isnt it?

    The growth over the next couple of years is expected to be the highest in the services sector

    industries like IT/ ITes, Biotechnology, Hospitality, HR etc. Since these sectors are

    continuously evolving and as the service sector pie in the GDP increases to more than 65%,

    the manpower required would have to be readily upgrade their skills on all fronts.

    Job generating service sectors (January-November 2010)

    SectorsGrowth in %age as compare to the

    2009 Share in %age

    IT/ Enabled 31.9 40.3Academics 85.5 12.4Engineering 110.4 5.6Insurance 19.9 5.0Hospitality 38.2 3.3Biotechnology 46.0 2.7HR 16.7 2.5

    Indias growth has always been attributed to its youth. But sadly it is this youth which is

    found lacking in the basic skills required to do their duties for everyday work.

    What can be done?

    There has always been stress on industry academia interaction. But sadly it has becomesomewhat of a marketing tool used by all colleges to promote their brand. Instead of the

    interaction, probably organizations could designate certain colleges for starting courses

    related to their field. For eg: Future Group has some retail courses running in few colleges.

    Perks, salary hikes, promotions etc. which have already started as the economy improves are

    an easier way of getting the right people for the job. Since a Nobel Prize winning study

    concludes that unemployment exists in a large amount because people are not willing to work

    rather than not getting work, this could be an important tool to motivate them.

  • 8/7/2019 sgvdjsjd

    14/17

    Another big requirement is the thrust on vocational and skill based training That is the needof the hour. Even if we are able to train one tenth of unskilled working population, it will

    make a huge positive impact on Economic growth.

    There are opportunities galore for people in the country! Its just that the right skilledworkforce has to put their hands up!!

    The downside of Indias Economic growth

    by Aseem Rastogi

    email print share

    India has emerged as the 2nd fast growing economy after China and has been at the forefront

    of emerging out of the recession at breakneck speed. The growth rate has jumped from 6.5percent in 2009 to close to 9 percent this year. I just spoke yesterday about how Pay Packages

    are growing, the number of jobs available in the market is growing, FII is increasing like

    never before and even companies are hiring in hordes The economy is in the log phase ofgrowth. This is all great, but too much growth also has its own downside.

    The biggest advantage of too much growth could be the biggest downfall which could

    lead to de-growth. What a paradox, isnt it?

    Very high growth rates have the potential of creating around 10-15 million jobs across thecountry across sectors. Around 90% of these jobs would require skilled people at the

    forefront. And for that a lot of vocational training is required which requires cost.

    But are there really so many skilled people?

    Millions of candidates across the country graduate every year. But less than 2-3% of those

    are directly employable. What a sad ratio, isnt it?

  • 8/7/2019 sgvdjsjd

    15/17

    The growth over the next couple of years is expected to be the highest in the services sectorindustries like IT/ ITes, Biotechnology, Hospitality, HR etc. Since these sectors are

    continuously evolving and as the service sector pie in the GDP increases to more than 65%,the manpower required would have to be readily upgrade their skills on all fronts.

    Job generating service sectors (January-November 2010)

    Sectors Growth in %age as compare to the2009 Share in %age

    IT/ Enabled 31.9 40.3Academics 85.5 12.4Engineering 110.4 5.6Insurance 19.9 5.0Hospitality 38.2 3.3Biotechnology 46.0 2.7HR 16.7 2.5

    Indias growth has always been attributed to its youth. But sadly it is this youth which is

    found lacking in the basic skills required to do their duties for everyday work.

    What can be done?

    There has always been stress on industry academia interaction. But sadly it has become

    somewhat of a marketing tool used by all colleges to promote their brand. Instead of the

    interaction, probably organizations could designate certain colleges for starting courses

    related to their field. For eg: Future Group has some retail courses running in few colleges.

    Perks, salary hikes, promotions etc. which have already started as the economy improves are

    an easier way of getting the right people for the job. Since a Nobel Prize winning studyconcludes that unemployment exists in a large amount because people are not willing to work

    rather than not getting work, this could be an important tool to motivate them.

    Another big requirement is the thrust on vocational and skill based training That is the needof the hour. Even if we are able to train one tenth of unskilled working population, it will

    make a huge positive impact on Economic growth.

    There are opportunities galore for people in the country! Its just that the right skilled

    workforce has to put their hands up!!

    The downside of Indias Economic growth

    by Aseem Rastogi

    email print share

    India has emerged as the 2nd fast growing economy after China and has been at the forefront

    of emerging out of the recession at breakneck speed. The growth rate has jumped from 6.5percent in 2009 to close to 9 percent this year. I just spoke yesterday about how Pay Packages

    are growing, the number of jobs available in the market is growing, FII is increasing like

    never before and even companies are hiring in hordes The economy is in the log phase of

    growth. This is all great, but too much growth also has its own downside.

  • 8/7/2019 sgvdjsjd

    16/17

    The biggest advantage of too much growth could be the biggest downfall which could

    lead to de-growth. What a paradox, isnt it?

    Very high growth rates have the potential of creating around 10-15 million jobs across the

    country across sectors. Around 90% of these jobs would require skilled people at the

    forefront. And for that a lot of vocational training is required which requires cost.

    But are there really so many skilled people?

    Millions of candidates across the country graduate every year. But less than 2-3% of those

    are directly employable. What a sad ratio, isnt it?

    The growth over the next couple of years is expected to be the highest in the services sector

    industries like IT/ ITes, Biotechnology, Hospitality, HR etc. Since these sectors arecontinuously evolving and as the service sector pie in the GDP increases to more than 65%,

    the manpower required would have to be readily upgrade their skills on all fronts.

    Job generating service sectors (January-November 2010)

    SectorsGrowth in %age as compare to the

    2009 Share in %age

    IT/ Enabled 31.9 40.3Academics 85.5 12.4Engineering 110.4 5.6Insurance 19.9 5.0Hospitality 38.2 3.3Biotechnology 46.0 2.7

    HR 16.7 2.5

    Indias growth has always been attributed to its youth. But sadly it is this youth which is

    found lacking in the basic skills required to do their duties for everyday work.

    What can be done?

    There has always been stress on industry academia interaction. But sadly it has become

    somewhat of a marketing tool used by all colleges to promote their brand. Instead of the

  • 8/7/2019 sgvdjsjd

    17/17

    interaction, probably organizations could designate certain colleges for starting coursesrelated to their field. For eg: Future Group has some retail courses running in few colleges.

    Perks, salary hikes, promotions etc. which have already started as the economy improves are

    an easier way of getting the right people for the job. Since a Nobel Prize winning study

    concludes that unemployment exists in a large amount because people are not willing to work

    rather than not getting work, this could be an important tool to motivate them.

    Another big requirement is the thrust on vocational and skill based training That is the need

    of the hour. Even if we are able to train one tenth of unskilled working population, it will

    make a huge positive impact on Economic growth.

    There are opportunities galore for people in the country! Its just that the right skilled

    workforce has to put their hands up!!