India can become world's HR capital: PM Modi at 'Skill India' launch
India should emerge as the "human resource capital" of the world, Prime Minister Narendra Modi said on Wednesday while launching the ambitious Skill India Mission aimed at giving vocational training to youth across the country.india Updated: Jul 16, 2015 01:44 IST
India should emerge as the "human resource capital" of the world, Prime Minister Narendra Modi said on Wednesday while launching the ambitious Skill India Mission aimed at promoting entrepreneurship and equipping 500 million Indians with skills by 2022 that would enable them to find jobs.
"If China is like a 'manufacturing factory' of the world, India should become the 'human resource capital' of the world. That should be our target and we should lay emphasis on that," Modi said addressing the launch event in New Delhi.
"The world needs skilled people. There is a huge job market out there. We must map the needs and train our youth accordingly," he said.
Modi said India has the potential to provide a workforce of about 4 to 5 crore to the world if the capabilities of the countrymen are honed through proper and dynamic training in skills.
The National Policy for Skill Development and Entrepreneurship 2015 is aimed at empowering those left out of the mainstream education system by incentivising skill training through financial rewards to candidates who successfully complete approved training programmes.
"This mission is for those people who are left behind. And who are these people? People with money aren't left behind, these are the poor," he said, adding the programme is a war against poverty.
Modi clarified that the mission is not limited to skill, but also includes entrepreneurship.
Noting that the world and technology is changing fast, he said, "We need to have futuristic vision and prepare plans for the next 10 years" and advocated the need for regular interaction between industry and technology experts.
Observing that there are several developed nations which have wealth but not human resources, he said India, in the near future, will be the only country that can cater to this requirement if proper skills are developed here.
"People of India have huge capabilities and this has been recognised the worldover since centuries. We have forgotten the skills. We have to regain those," he said, adding the training institutes in India need to be dynamic.
He said while the Indian IITs made a name for themselves globally in the last century, it is the turn of ITIs (Industrial Training Institutes) to do the same this century.
The event saw a large turnout of Union ministers including finance minister Arun Jaitley and defence minister Manohar Parrikar as well as chief ministers. Foreign dignitaries and senior industry leaders were among the invitees.
A redesigned Model Skill Loan Scheme, a Skill Card for those certified under the Pradhan Mantri Kaushal Vikas Yojana and a new National Policy for Skill Development are part of the plan with the Prime Minister vowing to train every young Indian in different skills. “If China is recognised as manufacturing factory of the world, India can become the human resource capital of the world,” he said at the event attended by 14 Union ministers and at least nine chief ministers.
Among the audience was 19-year old Ankita Rabha from an economically disadvantaged Assam family. “It is a dream come true for me. I wanted to study computer hardware, but never had the resources,” she said after being handed a `30,000 cheque by the PM to pursue a vocational course which will entitle her to a placement after twelve months. She will have to return the money in three years.
An abysmal 4.7% of India’s 487 million-strong workforce possesses formal vocational education, compared to about 60% in industrialised countries.
The Congress dismissed the campaign as the rehash of a previous United Progressive Alliance government scheme. “The mission was originally launched in August 2010. Its flagship scheme STAR was launched in August 2013,” former finance minister P Chidambaram tweeted.
Education stocks surge
Education stocks caught the fancy of investors, surging as much as 20% today, amid launch of the ambitious “Skill India” Mission. Everonn Education soared 20%, while Educomp Solutions jumped 19.92% on BSE. Shares of CORE Education rallied 13.27%, NIIT gained 4.30% and Aptech rose by 3.40%.