India is making significant strides toward becoming a $5 trillion economy and positioning itself as the third-largest globally. At this critical juncture, harnessing the potential of the country’s youth is paramount. Recent data reveals that 46.9% of India’s population is under 25 years of age, with a nearly equal distribution between males (47.4%) and females (46.3%). This demographic represents a valuable asset for driving future growth and prosperity, provided it is effectively leveraged.
In response, the Indian government has prioritized employment and skill development in its latest Budget, allocating Rs 2 lakh crore to train and create job opportunities for 4.1 crore individuals over the next five years. This initiative is complemented by a shift in educational strategies among universities and business schools across India, which are increasingly adopting skill-based and need-oriented curricula. This marks a departure from the traditional, uniform educational approach towards programs designed to equip students with practical skills relevant to today’s workforce.
Dr. Jones Mathew, Principal of Great Lakes Institute of Management, Gurgaon, highlights the need for this shift. “India’s education system has been criticized for its emphasis on theory over practical skills, leading to a significant employability gap,” Mathew notes. He underscores that industry demands have evolved, necessitating graduates who are job-ready and capable of contributing effectively from day one.
Vishal Khurma, CEO of Woxsen University, Hyderabad, echoes this sentiment, emphasizing the transformation of the traditional education model. “We are pivoting towards need-based and skill-based curricula to prepare students for lifelong learning and adaptability,” Khurma states. He points to Woxsen University’s integration of technology, interdisciplinary learning, and industry collaboration as key elements in ensuring students are prepared for the future. The university’s high-tech labs, entrepreneurial incubation centre, and international exchange programs underscore this commitment.
At MIT World Peace University in Pune, similar reforms are underway. Dr. R. M. Chitnis, Vice Chancellor, highlights the role of their Skill Development Cell and collaboration with the National Skill Development Corporation (NSDC) in offering a wide range of courses to benefit both students and aspiring learners nationwide.
Business schools are also crucial in this educational shift. Dr. Mathew notes that Great Lakes Institute of Management integrates practical skills into every course, ensuring graduates are equipped with real-world capabilities.
As educational institutions embrace this approach, the focus on practical, need-based learning is setting a new standard in higher education across the country.
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