In a move that will skill and re-skill millions of Indian youth to cater to new age technology and job roles, finance minister Nirmala Sitharaman said government will now focus on new age skills like Artificial Intelligence (AL) , Internet of Things (IoT) , Machine Learning (ML) to help them get jobs overseas. FM Sitharaman tabled the first union budget of Narendra Modi government.
In her speech, the FM said focus under Skill India mission will be to train youth in different languages to prepare them for global jobs.
Skills development ministry has been working on a dedicated policy for re-skilling and up-skilling of the existing workforce with focus on new areas of technology. A dedicated curriculum will be developed across identified sectors.
The idea is to ensure that individuals have access to economic opportunities by remaining competitive in the new world of work and that businesses have access to the talent they need for the jobs of the future.
According to a Nasscom report, about 40 Perbcent of India’s total workforce has to be reskilled over the next 5 years to cope with emerging trends such as AI, IoT, ML and blockchain. India’s total workforce stands at nearly 500 million and of this at least 200 million would need reskilling to match industry requirements.