According to a recent estimate released on Friday, India will require 30 million professionals with digital skills by 2026, and almost 50% of the current workforce will need to upskill in areas of emerging technology.
Details about India would require 30 million professionals with digital skills by 2026
In India, where there are currently 500 million individuals of working age, industry data indicates that only 49% of the nation’s youth (aged 22 to 25) are employable, according to employment services company TeamLease.
“According to our own survey, 75% of businesses in the sector experience a skills deficit. Readjusting the skill plan would be vital for businesses because 40% of fundamental talents are likely to change, even among those who can stay in their existing professions “co-founder and executive director of TeamLease Services Rituparna Chakraborty.
Additionally, the paper contends that a comprehensive skill development strategy will result in a more sustainable future of work by creating a skills matrices, conducting skill audits to focus on certain learning paths, and integrating upskilling within the company culture.
A successful outcome-focused learning method with structured impact evaluation criteria is another option made.
“In 2023, it’s anticipated that over 2 million positions in blockchain, cyber security, and AI would go vacant. Additionally, because of how quickly the workplace is changing, 76% of the world’s workforce lacks the necessary skills to work in the new, digitally centred workplaces “referred to Chakraborty.
“All skill development programmes must have the building of a workforce that is future-ready and future-proof as their long-term objective because it is the only way we can address the changes in the workplace and foster a sense of more stability. The only way to combat the whims of talent inequality is to implement sustained skill development and so build a strong talent pipeline in every nation.”
By producing 2.3 million new employment by 2030, upskilling investments, according to the World Economic Forum, may increase India’s economy by $570 billion.