Skill Development: A Key to Success of Make in India Project

As India is moving progressively towards a knowledge based economy, it is essential that youth of India are adequately equipped with skills that are relevant to emerging economic environment. India is one of the fastest growing economies of the world. As we pass through the different phases of growth there is a shift of workforce from primary sector to secondary and tertiary sectors. The skills required for secondary and manufacturing sector are quite different from those of primary or agriculture sector. When workforce migrates from one sector to another sector, there will be a huge skill gap. For implementing the concept of Make in India and making India a manufacturing hub, proper skill development is the need of the hour. Education system in India focuses more on academics and formal education. As a matter of fact, higher education institutions in India are producing degree holders who are not adequately equipped with skills needed by the industry. This leads to increased unemployment in the country. In view of this, Government of India has launched a number of skill development initiatives but facing challenges while implementing them. The present study aims at studying the structural framework designed to execute skill development initiative and how it can be improved further to contribute more to achieve ‘Make in India’ objectives.