A STUDY ON SKILL DEFICIT IN INDIA AND STRATEGIES TO OVERCOME

Abstract

Skill scarcity is a critical society problem that must be extensively investigated in each firm. The challenges associated with skill shortages are examined in this study, and viable solutions are offered to successfully address the problem of skill shortages. Skills are an important factor in determining success and happiness. As a result, strategies on skill development must be based on the most up-to-date knowledge available, particularly in developing countries where resources for skill investment are limited and cannot afford to be squandered. The paper employs a case study format. The paper's key sections examine the country's existing vocational and skill development ecosystem and recent policy initiatives. The remaining sections of the paper describe Gram Tarang's business model, emphasising their strategies for candidate mobilisation, training infrastructure, curriculum, and critical aspects of partnership with industry and employers, as well as their strategies for scaling up and sustainability. We can say that globally, both public and private sector vocational training systems and organisations are failing to meet the needs of rising populations and quickly changing labour markets. Young people who, if properly trained, could find meaningful job are frequently unemployed or underemployed.