India’s demographic dividend as a time bomb , Pg8

Key Highlights:

• India's demographic dividend is at risk of becoming a demographic time bomb due to a widening gap between education and real-world skills.
• A 2022 survey revealed that 93% of Indian students are aware of only seven traditional career options, while the modern economy offers over 20,000.
• The Skill India Mission, aimed to train over 400 million individuals by 2022, fell short of its target due to systemic issues.
• Only 43% of Indian graduates are deemed job-ready, highlighting a significant skills gap.

Detailed Insights:

• AI is expected to impact up to 70% of current jobs globally, with up to 30% of tasks being automated, while curriculum updates lag behind.
• By 2030, nearly 7 out of 10 Indian jobs are at risk from automation, but AI and other new technologies will also create 170 million new jobs.
• Over 65% of high school graduates pursue degrees misaligned with their interests, leading to graduates ill-equipped for the job market.
• The Indian government has launched initiatives like the Skill India Mission and Pradhan Mantri Kaushal Vikas Yojana (PMKVY) to bridge the skills gap, but a cohesive strategy is needed.

Key Concepts Involved:

• Demographic Dividend: Demographic dividend is the economic growth potential arising from a rising share of working-age population compared to dependents in a country’s demographic structure.
• Artificial Intelligence (AI): The simulation of human intelligence processes by computer systems.
• Skill Gap: The mismatch between the skills that employers seek and the skills that employees possess.