Also, Indian govt. has launched a model initiative to focus on connecting all existing employment centers as in to create one kind of an online employment exchange board. If we look at the results for this year, the employability index, showed a minor improvement from last year, rising to 38.12% from 37.22%. To provide detailed insights of the hiring trends to the supply side, companies across sectors were questioned on the preferred age group, preferred campuses, most important skill required, and the sourcing channels etc. The results revealed a clear inclination towards young candidates with about 80% employers preferring to engage candidates of age 30 years and below.

However, when compared to last year’s responses, the engaging of candidate over 31 years of age has significantly decreased. The most interesting trend is inclination of software industry towards candidates aged more than 30 years. As the growth in this sector is gradually slowing, this trend has found its place.

Having said that, the preference for the young workforce by most industry sectors is a good news for a country like India. So as long as candidates are job-ready the candidates will not have a paucity of jobs.

Having about 12 million graduates joining workforce every year, the Indian startup ecosystem has been rapidly evolving driven by an extremely young, diverse and inclusive entrepreneurial landscape. In order to provide job opportunities to all of them, it is important to have a fountainhead for generating new jobs.

Government of India has adopted skill development as a national priority over the next 10 years. Currently, it is estimated that only 2.3% of the workforce in India has undergone formal skill training as compared to 68% in the UK, 75% in Germany, 52% in USA, 80% in Japan, and 96% in South Korea. Large sections of the educated workforce have little or no job skills, making them largely unemployable. Therefore, India must focus on scaling up skill training efforts to meet the demands of employers and drive economic growth.

The most important initiative in last 12 months was to create a stand alone “Skills Ministry” headed by energetic and forward looking minister. Though many of these initiatives are yet to show results for concrete employment for our youth, but they are certainly in the right direction.

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