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India is a unique Country which has diverse cultures, religions & biggest strength is its population. Being the second most populated country in the world, it is the wish of every business in the USA, Europe, Australia, etc.vto own the slice of this market.
India has a demographic advantage of having 65% of youth in the country, that comes to around 80 crore people who are under 35 years of age. It also means that there will be a huge growth in the younger population by the year 2050. So we have a strong workforce to work for a very minimal dependent older population. This makes India a strong contender globally to become number one in the Global market.
But with every advantage comes problems, with 80 crore youngsters, every year crores of youngsters complete their education & start looking for Jobs. But how does a country with 136 crores give a job to such a large number of people?
The biggest challenge India is facing is the creation of jobs. The highest number of people working in Government sector work is Railways, approximately 1.5 million. There is around 1.4 million work in armed forces. Just imagine we have 800 million people who would be looking for jobs in the near future. There are 3 kinds of job problems
- There are millions of educated unemployed
- Employed people are getting very less salary (due to a huge demand-supply gap)
- Less skilled labor available
Further because of the online industry growing very fast, artificial intelligence, automation, millions of people will be losing jobs in the near future. According to Niti Ayog C.E.O. Mr. Amitabh Kant, we need to create more job givers & not job seekers. Some years back, parents used to tell, study hard, get good marks, get a good education & you will get a good job & you will settle in life.
Our Education system has totally failed in this count. Millions of children are being unschooled, Fortune 500 companies have stopped qualifying people on their educational background. They are looking for practical working skills. Eg. Google does not bother whether you are an I.I.T. + I.I.M. Google checks your Technical skill which is relevant today and then qualifies you.
The workforce needs to be used productively. If these kids don’t get jobs, very soon they will lose their patience & use their energy for destruction. The solution is to help more people pursue their careers as Entrepreneurs rather than search for Jobs.
Mudra Yojana, Skill development is the measures taken by the Government.
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