How India’s demographic dividend can add 2% to its GDP every year?
- Emerging Technology
- Professional Skills
The numbers are breath taking! Efficient policy decisions are the key to make this reality, or else this opportunity may go horribly wrong. However, the skill India initiative offers a flicker of hope! Fortunately, this government has recognized the problem of skill gap and is investing to equip millions but at a very lower level cognitive jobs.
Yudhisther Yadav, in his blog on ‘Potential Solutions to Skill India in Emerging Technology’, tries to figure out if we have enough policy infrastructure to skill India in emerging technologies. In the blog, he mentions a paper written by Shekar Aiyar and Ashok Mody, according to which, it is projected that over next two decades in India, the increasing demographic dividend could add 2% points per annum to India’s GDP growth. In fact, he states that,
“The job scenario in IT Industry is undergoing a transformation due to adoption of automation and emergence of newer technologies (including disruptive technologies). Due to this, new job roles requiring different skill-sets are appearing and earlier jobs based on older skill-sets are losing their relevance. It has been indicated by NASSCOM that the total employee base of the IT-BPM Industry in India (as on FY 2017-2018) is around 3.9 million. However, due to growing automation, emergence of disruptive as well as new technologies, etc., about 30% of the existing workforce would require re-skilling to stay relevant and about 50-60% of the workforce would require re-skilling on continual basis.”
He further poses a probable solution to combat this challenge, based on the target audience across high school students, students graduating from STEM and non-STEM courses, students looking for jobs and IT/ITeS sector employees etc. By skilling, re-skilling and up-skilling in foundations of emerging technologies in a multi-pronged fashion, the goal of staying relevant in disruptive technology led complex future of work seems achievable. To know more about this idea in detail, read the full blog here.
Is learning technology relevant for all?
Learning technology is for everyone, because when technology advances, it impacts every sector and job role. Not just one, but every professional in every job sphere faces the need to upskill whenever a disruptive technology arrives to change the way work is being done. This makes it necessary for each individual, be it in pharma, agriculture or banking etc, to learn at least foundation level concepts of a new technology to stay relevant in their job role.
Driven by a passion to skill learners in the field of emerging technologies to make them future ready, NASSCOM Future Skills Prime has been launched with the support of Government, Industry and NASSCOM. With an aim of imparting digital fluency and foundational knowledge on emerging technologies like Artificial Intelligence and Big Data Analytics, a range of Skill Courses, Professional Courses and Soft Skills Courses are now live on FS Prime to get you started with the future of technologies!
We are excited to see you become future ready! Begin your skilling journey with us, NOW.