According to ICICI Bank’s MD & CEO Chanda Kochhar, reaping the demographic dividends of a young nation like India is very important to carry out sustainable development in the country. “This can be done by bridging the critical gap between manpower availability and employability which will pave way all to grow and prosper.”
India has more than 62 per cent of population in working age group (15-59 years), while over 54 per cent are below 25 years. Keeping these statistics in mind, the youth of our country should acquire the required skills to get a job or become self-employed.
A major chunk of Indian population lives below the poverty line which makes them inaccessible to training that can increase their employability.
As per estimates, only 4.69 per cent of the total workforce have undergone formal skill training compared to 68 per cent in UK, 75 per cent in Germany, 52 per cent in the US, 80 per cent in Japan and 96 per cent in South Korea.