Home / Companies / News /  Upskilling, jobs face challenges

The Union budget’s focus on job creation as well as skill development will need more incentives to attract the private sector, said recruitment experts. The need to train faculty, encourage the youth to pick up Artificial Intelligence (AI) and robotics skills, and bring India Inc. on board to hire them will take a longer time as companies have different requirements at the moment.

“Finding the right partners to train in AI, robotics and coding in large numbers will be a challenge. It will need better industry participation and the right skill set model have to be prepared. One needs to simplify compliance structures at the ground level," said Aditya Narayan Mishra, chief executive officer, Ciel HR Services.

Finance minister Nirmala Sitharaman announced the Pradhan Mantri Kaushal Vikas Yojana 4.0 aimed at skilling “lakhs of youth within three years", which will help on-job training in coding, AI, mechatronics, robotics, drones, Internet of Things, 3D printing and soft skills. “To skill the youth for international opportunities, 30 Skill India International Centres will be set up across states," the FM added.

While job creation was one of the three key agendas of the FY24 budget, apart from strengthening India’s macro-economic stability, and offering opportunities for citizens, HR experts urged the Centre to link education curriculum with industry demands.

“There needs to be more portability between education institutes and skillset needs in jobs. Education cannot be standalone from industry needs," Rituparna Chakraborty, co-founder, executive director, TeamLease Services said.

More incentives and the mandate to engage some form of apprenticeship should become the norm in education institutes, she said.

The government launched a National Apprenticeship Promotion Scheme to provide stipend support through direct benefit transfer to 470 million youth within three years.

However, Chakraborty said more than the direct transfers, the government must focus on stronger push to get the skilled workforce and companies to be ready to fund the stipends if talent is available.

HR consultants note that more steps need to be taken for India Inc.’s middle order.

“…more could have been done to favourably impact the middle management and other senior executive levels where the tax rate has been left unchanged,"said Roopank Chaudhary, partner, Human Capital Solutions, Aon India. “There is also lot of impetus on job creation and opportunities for skilling and reskilling, but more of this needs to be done for the private sector as well in a more systematic and efficient way," he added.

Devina Sengupta
Devina Sengupta reports on the shifts in India Inc’s workplaces, HR policies and writes about the developments at India’s biggest conglomerates. Her stories over the last decade have been picked up and followed by Indian and international news outlets. She joined Mint in 2022 and previously worked with The Economic Times and DNA-Money.
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