Today’s world faces many challenges, including geopolitical instability, rapidly changing skill requirements, inflation, and massive layoffs. According to Layoff.fyi, 839 tech companies have laid off over 2 lakh employees in 2023. Amidst this, the world has witnessed the rise of generative AI which will impact the jobs of more than 80% of workers. Additionally, according to Monster’s Future of Work 2022 Report, it’s estimated 91% of employers are struggling with the right hiring due to the ‘skills gap’, highlighting a mismatch between skills, knowledge and industry advancement.
How to create a skilled workforce?(Getty Images/iStockphoto)
There is a noticeable gap between academia and industry-relevant skills and knowledge. While some courses cater to a particular industry or sector, the overall system falls short which then has a compound effect on the economy. To address this, the National Education Policy (NEP) is a welcome move by the government. NEP promotes education that places equal emphasis on academics, practical knowledge and industry exposure.
Additionally, recent amendments to the NEP have seen the removal of science, commerce and arts streams, thus allowing students to pursue a wide range of subjects according to their desire. The 5+3+3+4 structure will enhance a student’s foundational education until their secondary stage.
One major obstacle in liberalising higher education from government and regulatory control has been the lack of momentum in fully granting independent control to central universities and IITs.
This is further exacerbated by the lack of recruitment to vacant faculty and leadership positions in central universities and institutions, with approximately 6000 posts (nearly 30% in total) still vacant.
India has the world’s second-largest higher education system. But without proper guidance, leadership and faculty staff, the goal of doubling gross enrolment to 50% by 2035 may take a bit more time.
A second big obstacle to the NEP is the adoption of the NEP. As a policy, the NEP provides us forward recommendations to improve the country’s Education system and make it more experiential.
However, its adoption across secondary and higher education remains a big challenge.
Since 2001, the number of institutions has risen by 400%, yet, the best colleges are in just 9 out of 28 states with the quality of graduates rated below 50% for employability according to the results by India Skills Report. The primary factor for this gap is the integration of industry skills and experiential learning into the everyday curriculum as recommended by the NEP.
Further, the last decade has seen rapid growth in all economic sectors. This has resulted in a demand for new and changing skills.
As new-age technologies continue to disrupt industries, higher education institutes will need to help students become more agile, adaptive, experienced, digitally literate and resilient for Industry 4.0.
India Inc. today requires professionals who are industry-ready. To this end, institutions and educational services need to provide 360-degree support to students from updated and industry-relevant curricula to real-world experiences through internships and placements.
Institutions should ensure that the new age skills and technologies are included in their curriculum and reinforce the core skills for several job roles.
Education Institutions in the country should focus on employing the tools and recommendations of the NEP.
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