Skills for the Future: Transforming India’s Workforce Landscape Report

Skills for the Future: Transforming India’s Workforce Landscape Report : Recently, the Institute for Competitiveness (IFC) released a landmark report titled “Skills for the Future: Transforming India’s Workforce Landscape”, marking a significant step in advancing India’s workforce development agenda.

• Key Findings: As per PLFS (2023–24) data, 88% of India’s workforce is engaged in low-competency occupations, while only 10–12% occupy high-competency roles, indicating a significant skills gap.

o Five sectors account for over 66% of vocational training in India:

ü Information Technology (IT) and IT-enabled Services (ITeS)

ü Textile and Apparel

ü Electronics

ü Healthcare and Life Sciences

ü Beauty and Wellness

o Calls for multifaceted and targeted interventions to build a workforce that is adaptable to future economic and technological changes.

• About IFC : An international initiative Dedicated to advancing research in the fields of competitiveness, strategy, and economic development.

o It draws inspiration from Harvard Business School.

o IFC manages the Shared Value Initiative in India, promoting business strategies that generate both economic and social value.

o Working with the GOI to assess the social progress performance of 29 states &562 districts.