Challenge Of Creating A Skilled Workforce

NDIA stands tall today as the world's fastest-growing large economy.

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This has been accompanied by the creation of highquality employment opportunities, reflected in the latest Periodic Labour Survey, where positive trends can be observed across many indicators. The worker-population ratio (WPR) for people aged 15 and above increased by almost 10 percentage points from 46.8 percent in 2017-18 to 56 percent in 2022-23. Similarly, the labour force participation rate (LFPR) significantly increased over the same five-year period from 49.8 percent to 57.9 percent. This was supported by a concomitant decline in the unemployment rate from 6 percent to 3.2 percent.

This employment landscape has undergone transformative changes over the years, with the emergence of dynamic sectors and entrepreneurial ventures. A host of government initiatives directed towards fostering gainful employment has created a conducive ecosystem fostering innovation, creativity and entrepreneurial talent.

At the same time, a strong impetus has been placed on developing a future-ready, inclusive and employable workforce with relevant and up-to-date skills, supported by various skill development programmes and affirmative action policies that will continue to shape India's future of work.