A Study on Skill Development and Productivity of the Workforce in Indian Economy_ Crimson Publishers

A Study on Skill Development and Productivity of the Workforce in Indian Economy by  Pradeep Kumar Panda in Integrative Journal of Conference Proceedings


This paper analyses the current scenario of skilled workforce of Indian Economy and future requirement of skill development. The paper also outlines skill gap in various sectors, the key issues and policy implications to address those issues and challenges in Skill Development and Productivity arena. Today, India is one of the youngest nations in the world with more than 62% of its population in the working age group (15-59 years), and more than 54% of its total population below 25 years of age. Its population pyramid is expected to bulge across the 15-59 age group over the next decade. It is further estimated that the average age of the population in India by 2020 will be 29 years as against 40 years in USA, 46 years in Europe and 47 years in Japan. In fact, during the next 20 years the labour force in the industrialized world is expected to decline by 4%, while in India it will increase by 32%. This poses a formidable challenge and a huge opportunity. To reap this demographic dividend which is expected to last for next 25 years, India needs to equip its workforce with employable skills and knowledge so that they can contribute substantively to the economic growth of the country. As India moves progressively towards becoming a global knowledge economy, it must meet the rising aspirations of its youth. This can be partially achieved through focus on advancement of skills that are relevant to the emerging economic environment. 

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