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Question-2: “A skilled workforce is crucial for the success of Make in India”. Explain. 

Answer: Skill Development can be defined as proficiency that is acquired or developed through training or experience.

It strengthens the ability of individuals to adapt to changing market demands and help benefit from innovation and entrepreneurial activities.

Skill India

  • “Skill India” programme aims to train a minimum of 300 million skilled people by the year 2022.
  • The skilled workforce is crucial for the success of Make in India Initiative, Digital India, and Smart Cities.

Importance of skilled workforce for success of Make in India

  • China is gradually vacating its factories due to higher wages and an appreciating local currency Yuan.
  • China also faces internal demographic challenge of too few young people. India has an opportunity to become a factory of the world.

Initiatives to improve skill development

  • In 2014, the Ministry of Skill Development and Entrepreneurship was created to harmonise training processes, assessments, certification and outcomes and, crucially, to develop Industrial Training Institutions (it is) — the building blocks of this endeavor.
  • A ‘Skill Loan’ initiative was launched in which loans from Rs 5,000-1.5 lakhs will be available to those who seek to attend skill development programmes, over the next five years.

Thus, the focus of economic policy must be the creation of jobs and creating an enabling policy for youth to take up entrepreneurship and create more jobs in the market.

Tags: GS 3 (Growth and development)

By – Prashant Tiwari

Updated on 26 May 2022 |   Added on .25 May 2022  |  by admin