EDUCATION AND SKILL DEVELOPMENT IN NEW ERA

Abstract

Skill Development serves as a tool to enhance overall effectiveness and empower individuals to work with greater efficiency. It plays a significant role in boosting productivity, fostering innovation, and increasing competitiveness with in the economy. In an era of rapid globalization and technological advancements, both challenges and opportunities arise for economic expansion and job creation. Countries that possess higher levels of skill and competence adapt more effectively to the demands of globalization.
The minister of Skill Development and Entrepreneurship, through the establishment of the National Skill Development Corporation (NSDC) in 2008, has been actively addressing these challenges. The NSDC, a not-for-profit public limited company, aims to promote skill development across the nation. This paper aims to shed light on the diverse challenges faced by the youth in our country and highlight various government initiatives, particularly the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) and the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), which have been implemented to overcome these challenges.
The urgency to address skill gaps in various industries is apparent and more crucial than ever. India’s demographic advantage can only be fully utilized when the workforce is equipped with modern and future-oriented skill sets. Emphasizing the development of skills that align with emerging economic trends is of utmost importance. By doing so, India can transition into a knowledge economy and effectively meet the global demands for skilled professionals.