Public–Private Partnership to Meet the Skills Challenges in India

India has one of the youngest populations globally. Statistically, 47.8% of India’s population is below 29 years, increasing to 49.9% in 2021. It is expected that over the next 15 years, 365 million people will be eligible to join the workforce. Skill development initiatives were traditionally led by the government, starting establishment of Industrial Training Institutes and Centres. In 2008, the Prime Minister outlined his vision for skill development of 500 million people by 2022. National Skill Development Corporation, incepted in 2009, is mandated to skill 150 million people by 2022 in 20 focus sectors identified by the government and the informal segment through a three-pronged approach revolving around creating, funding and enabling sustainable skills training initiatives in the private space. Till May 2012, NSDC has approved 49 private sector training providers which between would skill 67 million people in 21 high growth by 2022.