A STUDY ON THE REQUIREMENT OF SKILLS DEVELOPMENT FOR THE SUCCESS OF “MAKE IN INDIA” PROJECT

Abstract

Around five months back, Prime Minister Narendra Modi launched “Make in India” project, with an aim to make manufacturing a key engine for India’s economic growth. But to make this project successful, it is important to focus on the development of the skills of Indian labours to enable them in getting and doing the right job. Planning Commission report suggests only10% of the Indian workforce get formal training and against the actual industrial training requirement of 22 million workers, only 4.3 million workers are getting trained! To overcome this, Government of India has launched various skill development initiatives, but faced various challenges while implementing the same. However, few other nations like, China, Germany, South Korea, United Kingdom and Singapore have successfully implemented their respective skill development programs. So, in order to make “Make in India” project successful, various corrective measures should be taken to bridge the gap between existing and required skills and also to improve the implementation of skill development initiatives.