India’s Paradox of Plenty
Paradox of
plenty or the resource curse (Richard Auty used this term for the first time I
1993) refers to a paradox that countries having abundant natural resources tend
to grow slower than other countries having relatively fewer resources. This
paradox generally refers to natural resources like oil etc., but in India we
can attribute the same to Demographic mileage also.
Countries
like Japan, Canada etc. despite have successfully brought themselves up even
without having demographic dividend. Despite having the largest chunk of young
population, around 35% in the age group of 22-38, we are unable to take
advantage of this demographic dividend. Last year, Aspiring minds did a study
on the employability on the young engineers and concluded that around 94% of
the engineers are not employable, or we can rather say they are not industry
ready. NASSCOM-McKinsey report said that not more than 26% of Indian
engineering graduates are employable. This is not about engineering only, the
same happens in other field of studies as well. Be it management, law or any
other area of studies. Now comes the question, what is the root cause of this
evil. Experts have pointed out the few following reasons
# School
education
# Outdated
syllabi
# Poor teaching
and training methods
# Lack of
corporate involvement etc.
Way Ahead
MD Gurnani,
CEO & MD, Tech Mahindra was heard saying that this problem cann’t be solved
entirely by schools & colleges, rather industry should take the onus for
improving skill development. Govt. should also develop and implement proper
strategies for the upliftment of the educational institutions. Strict
compliances should be set and educational institutions must be compelled to
adhere by them. More emphasis should be given on vocational training so
that unskilled/ semi skilled labor can find a way for them. Since schooling creates the foundation of
skill set, it should be taken care of. Improper nurturing at the very ground
level compounds the problem further.
Apex educational bodies like AICTE, UGC etc. must take a note of the
substandard colleges running in our country. More incubation centres, skills
centres and research centres must be developed. Govt must help the educational
institutions in getting it done.
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