The recent economic slowdown because of Corona Pandemic has shown us how the growth of our country is very dependent on the developments and shifts in the skill requirements. Skills Development is essential for the country’s economic growth.
The different skill trends are vital for the progress of the economy. The history of the economy also shows that this was the trend followed before. It is a vital aspect of the Indian economy.
The Expert Opinion
According to experts, India’s economy could recover only when the skill sets of the people are matched by the latest technologies. They have pointed out that to revive the economy it is important to focus on the workers’ education, occupational training and learning in order to improve the skills of the people. Since there is a mismatch between the skill development required by the employers and the nature of jobs, the employees of the country are not able to step into the job market with the desired qualification.
Indian economy depends heavily on the development of the human resource, but at the same time, this is what has made it vulnerable to the problems arising in the present times. With a low-skilled population, the economy has become weak and thus has been susceptible to all sorts of risks.
The Indian economy is dependent on the nature of the people. There are different trends in the employment sector, which determine the growth of the Indian economy. Thus, human resource must be in high demand for the development of the economy.
Education is the only permanent solution to the problems of the country’s development. The educational institutions in India are leading the way for enhancing the quality of the jobs and improving the productivity of the country. They can provide the people with the required skills and educates them for a higher level of studies.
With the invention of various machines and technology, production has become easier and cheaper. The increase in the number of workers has been slowed down by the physical barriers. That is why it is important to employ more people in order to maintain the economy.
The shortage of qualified people has been responsible for the decline of the Indian economy. It is very important to train more people so that they can fill the gap in the job market. The unemployed are the ones who need special attention and have special needs to be addressed.
The field of human resource is playing a significant role in the development of the Indian economy. Therefore, it is very important to take help from experts in this field to train more people. India is one of the few countries where the engineers have been neglected and the technical knowledge of the people is just inadequate.
In short, there are many reasons why skills development can help in reviving the economy. The scholars have pointed out that it is important to develop the skills of the people in order to make the economy grow.
One of the examples of the employment sector is IT India. According to the information technology expert, India is facing many challenges because of the slow growth in the output in recent times. The industries are facing serious issues in terms of shortage of manpower and inefficiency in the production.
The answers to the question “Can Skills Development Help in Reviving Economy?” are mostly positive. However, it is important to take help from the experts in order to improve the overall condition of the economy.