Skill Development of the Youth: Pay heed to the market
Solutions must focus on understanding aspirations, industry requirements and standardization across the skill-development value chain
Coupled with a continual increase in voluntary unemployment, the International Labour Organisation expects unemployment in India to be higher in 2018. In a country where 65% of the population is below 35 years, unemployment, especially among youth, can limit the nation’s ability to reap the much-hyped demographic dividend. Recognizing this challenge, a wide range of stakeholders, including the government, companies, civil society organizations, and for-profit enterprises are working either independently or in cohesion to enhance youth employability.
A 2017 Intellecap study, of more than 80 programmes and organizations engaged in youth skilling in India, found that currently four models are used for supporting youth employability in the country. The first model, or the self-employment model, works on the rationale that if youth are trained in a particular skill, they will have the capacity to become micro entrepreneurs. The second model, or the employer-led model, trains youth in specific skills relevant to an enterprise and then absorbs the youth into their own value chain. The third, the placement-led model, provides training to youth and also established linkages with potential employers. Fourth, the market linkage model provides end-to-end support to self-employed youth, assisting them in earning better incomes. The government has also undertaken a structured approach via the establishment of the ministry of skill development and employment and the Pradhan Mantri Kaushal Vikas Yojana.View full article