PM Modi launches Skill Development mission to train 400 million

BACKsjobsPM Narendra Modi has launched the National Skill
Development Mission, an ambitious scheme to train
400 million Indians, by 2022.

Speaking to an audience in Delhi Modi said India can
be the world’s human resource capital. He was
referring to 65 % of India’s population that is
below the age of 35. He said Indians should be
ready to replace the diminishing workforce in other
countries.

The government also launched a skill loan scheme and
national policy for skill development and
entrepreneurship on World Youth Skill Day, under
which youth can avail of credit between Rs.5,000 and
Rs. 150,000 to attend skill-related training
programmes.

The government estimates a requirement of 110
million additional skilled personnel across 24
sectors with the demand highest in real
estate,transport, retail and beauty and wellness
sectors.

Industry promptly announced its support and
participation, with NIIT Ltd committing to train 10
million young Indians across 16 sectors over the
next 5 years. Tata Housing said it would provide
vocation skill development training to 100,000
socio-economically backward youth by 2014.

Wadhwani Foundations announced a commitment of $1
billion to its two ongoing initiatives the National
Entrepreneurship Network and Skills Development
Network that have had a significant impact on job
creation and is looking forward to increase its
initiatives to help India create and fill 25 million
jobs in the organised sector by 2020.