In this article, we will discuss India’s Current Human Resource Scenario. So, let’s get started.
India’s Current Human Resource Scenario
- Of the nearly 135 crore Indians in 2021, around 34% (46.42 crore) were below 19 years, and nearly 56% (75.16 crore) between the age of 20 and 59.
- By 2041, this demographic will change, but with 59% (88.97 crore) of its population between 20 and 59, India could be the world’s largest pool of human resources.
- Over the next two decades, the labour force in the industrialised world is expected to decline by 4%, while in India it will increase by nearly 20%.
- India could become the supplier of talent and skills if its workforce across age groups is equipped with employable skills that keep pace with the exponentially changing technological ecosystem.
Skilling of India’s Human Resource
- The 2015 Report on National Policy on Skill Development and Entrepreneurship had estimated that only 4.7% of the total workforce in India had undergone formal skill training compared with 52% in the US, 80% in Japan, and 96% in South Korea.
- A skill gap study conducted by the National Skill Development Corporation (NSDC) over 2010-2014 indicated an additional net incremental requirement of 10.97 crore skilled manpower in 24 key sectors by 2022.
- In addition, 29.82 crore farm and nonfarm sector workforce needed to be skilled, reskilled, and upskilled.
