India is home to an enormous number of young and talented individuals who possess the potential to make significant contributions to the country’s overall economic growth and development. However, despite their skills and capabilities, many struggle to find suitable employment opportunities due to inequitable access to opportunities and living standards. This disparity between talent and available jobs is a significant challenge that needs to be addressed urgently.
One of the main reasons behind this disparity is the imbalance between the skills possessed by the country’s youth and the skills required by the job market. Many young individuals pursue degrees or training programs in fields that do not align with the current demands of the job market. Unfortunately, they struggle to find jobs that match their skill sets, leading to unemployment and underemployment.
Moreover, the rapid pace of technological advancements has created a gap in the skills possessed by the youth and those required by the job market. Many of the jobs that were in demand a few years ago have become obsolete, and new jobs require specialized skills that are not easily accessible. As a result, many young individuals are unable to find suitable employment opportunities that match their skills and potential.
Another factor contributing to the need for more job opportunities for the country’s youth is the limited availability of formal sector jobs. The formal sector in India consists of industries and companies registered and regulated by the government. However, the formal sector only provides employment opportunities to a small percentage of the population, and competition for these jobs is intense. The majority of the jobs available are in the informal sector, which includes small businesses, unregistered companies, and self-employment. On average, 65 lakh graduates pass out every year in India, including 15 lakh engineers; still, the unemployment rate was at 7.45 per cent in February 2023. More shockingly, around 90 per cent of the workforce is employed in the unorganised sector, and thousands of candidates with a degree apply for roles for which they are overqualified.
The education system in India is also a contributing factor to the disparity between young talent and available job opportunities. The country’s education system significantly emphasizes theoretical knowledge, with a limited focus on practical skills and hands-on experience. As a result, many graduates need to be adequately prepared for the job market, and employers often complain about a lack of practical skills among job seekers.
Also, the Indian way of thinking favours following the rules over coming up with original ideas. There are rigid protocols for every project everywhere, from administration to management, and no one can have original ideas. Innovative solutions are often viewed as a challenge to the status quo. Having the courage to innovate in such a situation becomes pretty tough.
Fore mostly, the education system needs to be revamped to provide students with more practical training and hands-on experience. This can be achieved through partnerships between educational institutions and the private sector, where students can gain practical experience through internships and apprenticeships.
Also, the government needs to create an enabling environment for job creation, particularly in the formal sector. This can be achieved through policies encouraging private-sector investment, supporting entrepreneurship, and promoting innovation. The government can also provide incentives for companies that hire young talents, such as tax breaks or subsidies.
Efforts must be made to bridge the gap between the skills the youth possess and those required by the job market. This can be done by enrolling in programmes for vocational training that offer specialized knowledge in fields with high demand. By funding staff training and development initiatives, the business sector can contribute to closing this gap.
In gist
The disparity between young talent and available job opportunities in India is a significant challenge that needs to be addressed urgently. By creating an enabling environment for job creation, bridging the gap between skills and job requirements, and revamping the education system, India can unlock the potential of its young talent and accelerate its economic growth and development. This can only be achieved through a concerted effort by the government, private sector, and educational institutions.
