100 crore new jobs to be created globally in 20 years, India to have 25 pc share

New Delhi, July 20  The world is likely to see a huge addition of 100 crore new workers in the global economy in the next 20 years and India will have at least 25 per cent share of it, Ved Mani Tiwari, CEO of National Skill Development Corporation (NSDC), has said. Delivering a keynote highlighting India’s opportunity to become a talent nation at a FICCI event in the national capital, he said the country is poised to be the talent capital of the world, with a burgeoning young population.

As many as 12.5 crore jobs were created during the fiscal years of 2014-24, marking a four-fold jump from the 2004-2014 period, which saw the creation of about 2.9 crore jobs. Dr Buddha Chandrashekhar, Chief Coordinating Officer, AICTE, emphasised the role of academia in translating knowledge into practical applications, advocating for a comprehensive skill survey to identify skill gaps and align education accordingly.

Mayank Kumar, Chair, FICCI New Education Providers Sub-Committee and Co-Founder and MD of upGrad, outlined the government’s visionary initiatives, such as the SIDH (Skill India Digital Hub) platform and Skill Loan Scheme, designed to accelerate skilling and catapult India’s workforce onto the global stage. The event saw participation from over 200 leaders in the edtech space, including CEOs, CXOs, CTOs, vice-chancellors, deans and academicians. The conclave deliberated on shaping the future of education in the digital age.

The Union Budget next week will focus on job creation, supporting consumption via higher allocation for the rural economy, welfare schemes and agriculture with higher allocations for schemes like PMAY and MNREGA.