Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Budget / News/  Upskilling youth in AI, mechatronics, robotics key to job creation
BackBack

Upskilling youth in AI, mechatronics, robotics key to job creation

The Budget will make provisions for 100 labs across engineering colleges to build applications around 5G services

Photo: iStockPremium
Photo: iStock

Mumbai: The central government is preparing a two-pronged strategy, to upskill India’s workforce in areas such as artificial intelligence and mechatronics, while encouraging private partnerships and adding R&D centres to meet the skillset demand across sectors.

“There is a dire need to satiate the technological needs of a new India and the Union budget focuses on required upskilling of technology in terms of setting up AI centres of excellence. This will ensure we are poised to become the preferred technology-led R&D hub for the global conglomerates," said A.R. Ramesh, director of digital business solution, professional staffing, international engagement, Adecco.

Job creation was one of the three agendas of the Budget for FY24, besides strengthening macro-economic stability as well as opportunities for citizens, especially the youth.

On Wednesday, the finance minister rolled out the Pradhan Mantri Kaushal Vikas Yojana 4.0 aimed at skilling “lakhs of youth in the next three years", which will facilitate on-the-job training in coding, AI, robotics, mechatronics, 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 said.

The budget offers a strong impetus to growth and job creation and promoting macro-economic stability, said Rituparna Chakraborty, the co-founder and executive director of TeamLease Services. “However, access to rural talent must be addressed as part of these initiatives."

In her budget announcements the finance minister said that under the ‘Make AI in India and ‘Make AI Work for India’ campaigns, “three centres of excellence for Artificial Intelligence" will be set up in educational institutes, and industry players and the institutes are expected to come up with “scalable problem solutions in the areas of agriculture, health, and sustainable cities".

The Budget will make provisions for 100 labs across engineering colleges to build applications around 5G services to further the roll out of 5G by telecom companies. The labs will add to “employment potential" in areas like smart classrooms, precision farming, intelligent transport systems, and health care applications, she added.

Demand for jobs will come from emerging segments such as whitespace spectrum, virtual network operations, network security, IoT in big data, cybersecurity, 5G and cloud. “There was demand for 1.3 million talent in FY23 which is growing. New use-cases including cloud computing, robots, and the IoT are also seeing a sharp rise in hiring. We believe the budget initiatives will be beneficial to close India’s growing demand-supply gap of technical talent and workforce," Arvind Bali, chief executive officer, Telecom Sector Skill Council, said.

“There is also a large potential to be tapped in tourism that has opportunities in entrepreneurship," said the FM.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Devina Sengupta
Devina tracks and writes on workplaces, human resources and education for Mint. She also occaisionally writes an opinion column. She hosts a podcast on interesting HR trends in corporate India called The Working Life.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 02 Feb 2023, 12:41 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App