Skills development improves employability of workers, productivity of enterprises, & inclusiveness of economic growth. Upskilling can be an effective way to fill skills gaps when hiring for new roles or transitioning employees to different departments or industries.

For the purpose of sustaining social development, job growth, and a healthy economy, training and skill development must be an essential component of broad economic, social, & labour market policies. It is simpler to innovate, adopt technology, draw investment, compete in new markets, and diversify the economy when one has better skills. This increases productivity & employability simultaneously. Upskilling also leads to increased job security.

Skill development strategies have three purposes in order to maintain a “virtuous circle”:

1. Balance the supply and demand for new skills.
2. Preserve workers’ employability and the viability of business.
3. Continue to have an active development process.

The government also plans to make vocational courses available to students of different multidisciplinary bachelor’s programs. They have introduced numerous programs, including:

• Pradhan Mantri Kaushal Vikas Yojna
• Jan Shikshan Sansthan Scheme
• Craftmen Training Scheme
• Creation of Indian Skill Development Services

MSDE, in consultation with the Ministry of Education, has planned to implement the ‘Skill Hub Initiative’ under PMKVY 3.0.