Unemployment Crisis in India

Introduction

• Unemployment is a major issue in India, particularly in Uttar Pradesh.
• High youth unemployment is causing frustration and suicides.
• Forecasts suggest an increase in youth unemployment from 35% in 2000 to 65% by 2022.
• India's youth could become a massive unemployed force globally, despite its potential.

Historical Context and Comparison

• India has the world's largest and youngest population.
• Other countries like Japan (1950s) and China (1980s) experienced similar demographic shifts and became economic superpowers.
• India has potential but faces critical challenges related to unemployment.

The Reality of the Youth Workforce

• Despite projections, many young Indians are unemployed and unemployable.
• 80% of graduates do not find jobs; 83% of the unemployed are under 34.
• India's education system is not producing employable graduates.

Issues with Graduate Employability

• Many graduates lack the skills required by current job markets.
• Companies like TCS have vacancies but cannot find skilled applicants.
• Poor educational quality in engineering and MBA programs leads to unemployability.

Vocational Training and Skill Development

• A significant portion of youth lacks vocational training and modern skills.
• Modern trends like AI and Blockchain are not part of the curriculum.
• Examples from Google and international institutions are given to highlight gaps in Indian education.

Corporate Unemployability

• Many corporate employees lack skill updates, affecting job promotions and security.
• A significant number of employees feel stagnant in their jobs.
• Advances in technology have made older skills obsolete.

Rapid Technological Changes

• Technology in fields like AI is progressing very fast, leaving traditional curricula outdated.
• Examples include rapid advancements in AI-generated content and connectivity.

Economic Implications

• High youth unemployment lowers productivity and GDP, affecting economic growth.
• Manufacturing and service sectors, which employ many, are at risk if skill gaps persist.
• India may lose its competitive edge in attracting MNCs and lose investment to other countries.

Strategic Steps Forward

• Skill India program launched in 2015 had limited impact.
• Need to update curriculum and focus on advanced skills.
• Government should partner with private companies for training and curriculum updates.
• Private sector initiatives for upskilling are shown to be beneficial.

Conclusion

• Unemployability is a bigger problem than unemployment, requiring attention from the education system, government, and corporations.
• Addressing unemployability can solve the broader issue of unemployment.