India is a young nation, currently reaping the benefits of the exponentially emerging youth population. They have the capacity to facilitate the national economy by investing, paying taxes and saving their income and thus contributing to the upsurge of the national GDP.
The Demographic dividend is a portal which is predicted to last until 2040 when the number of employable youth is more than the number of aged and retired personnel. As a nation, India is capable to reap the benefits of this economic portal by employing the youth in various industries; where they can utilize their expertise to take their respective organizations to realise economic boom.
Skill gap situation :
Akin to other industries that encounter a huge discrepancy due to the semi-skilled or unskilled labor who have the least capability to drive the organization towards financial growth, the skill gap situation has been prominent in the Indian Fashion Industry too.
The ominous problem of skill gap is on the rise with increasing population and the lack of requisite technical skills and theoretical know-how. If not bridged, this skill gap might gradually disable the financial bottom line of the organization as well as the nation at large.
Indian Fashion Industry :
The Indian Fashion Industry is one that has been setting trends and creating astonishing progress throughout the world, owing to the astonishing maestros and fashion designers who are bolstering this industry and extending its reach all over the globe.
Though most of the designs are evolving with time and in conjunction with the ongoing global trends, nevertheless, the influence of Bollywood: the biggest indigenous film industry in the fashion world, is undeniable.
The indigenous fashion designers who have their own unique styles, are gradually making forays into Hollywood and are bursting into the international fashion scene. Migrating to foreign lands is indeed augmenting their profession as they are being supplemented by the skilled and specialized workforce. The ambiance is also very suitable that facilitates their trade.
Why is India driven to the backfoot :
The skill mismatch is a persistent worry, is having negative impacts on every industry; but is more pronounced in the fashion and textile industry. Though the fashion and textile industry provides employment to millions of people each year, whether they hail from urban areas or have their roots in rural India.
Probable Solutions :
The workforce that has been dedicatedly deployed to work for the fashion industry;
- Should be equipped with the modern concepts of fashion
- Should be aware and up-to-date about the global fashion trends that are making the rounds right now and even utilize their pertinent knowledge to customize these designs
- Should be equipped with basic academic and technical know-how that would enable them to manifest the inculcated skills in their field of work
These are expected to bridge the gap between the high standards of fashion and textile industry that India is known for, and thus cater to the worldwide demand for Indian textiles and fashion accessories.
Exporting finished products to the indigenous pool of customers as well as the appreciative global customers, providing them with their desired choices of fashionable and trendy outfits and accessories which rank high in durability would bring in a lot of revenue.
The process is a cyclic one, as the incoming revenue would be instrumental in developing the infrastructure of the Indian Fashion Industry and similar to a cause-effect relationship, would benefit the workforce involved by providing them with requisite knowledge and training.
As a conclusion, we can be hopeful to witness a surge in the national economy due to a booming Indian Fashion industry, if the skill gap situation is met rigorously and can be exterminated gradually, leaving no difference between skilled and unskilled labor.