The landscape of learning and development is undergoing a monumental shift, driven by the requirements of a digital economy, changing job markets, and the aspirations of its young population.
According to a report by IBEF, the Indian education sector is projected to amass a value of USD 225 billion by the end of 2025.
Here’s an examination of how skilling in India is progressing, marked by data and trends that illuminate this transformative journey.
Skilling the school students – Early child education
Early education recognition is crucial as preschools lay the groundwork for future education by nurturing children’s emotional, intellectual, and physical growth, shaping their adult selves.
The foundation of India’s skilling revolution begins at the school level, with a significant emphasis on STEM (Science, Technology, Engineering, and Mathematics) education. The K-12 education segment in India, which spans kindergarten through 12th grade, is vast and diverse.
Reports indicate a noticeable increase in STEM enrollment and the K-12 segment, attributed to the integration of Edtech platforms in the digital age. Digital literacy programs are being integrated into the curriculum to prepare students for a tech-savvy future, aiming to achieve 80% proficiency among school students, according to a KPMG analysis.
Early childhood education technology platforms are gaining popularity, making learning accessible and engaging for young children by utilizing interactive and personalized tools to enhance cognitive and social skills.
According to Inc42, the top 5 EdTech players in India in the K12 education sector are Byju’s, Unacademy, Vedantu, UpGrad, and Simplilearn. Complementing these advancements, government initiatives like the NEP 2020 aim to increase the Gross Enrollment Ratio to 100% in school education by 2030, demonstrating a commitment to universalizing education at all levels.
University students – Bridging the skill gap
As students progress into higher education, the focus shifts to bridging the gap between academic knowledge and industry requirements. Universities are increasingly collaborating with businesses and drawing insights from technology leaders to incorporate practical training in AI, data analytics, and cybersecurity.
According to a BCG report, such partnerships have increased employability by 25% in specialized fields. However, with 1,113 universities and a GER of 27.3% as of November 2023, India requires increased financial support to enhance teacher quality, foster innovation, and upgrade infrastructure in its education sector.
Encouraging Foreign Direct Investment (FDI) and facilitating External Commercial Borrowing (ECB) could prove to be viable solutions to address these challenges.
Professionals – Continuous learning and upskilling
Looking ahead, India is poised to become the world capital of skilled workforce. However, an IBM report states that currently only 48% of India’s youth are employable, indicating that 1 out of every 2 Indian youths may lack crucial skills for employment.
In the professional sphere, the focus on skill development revolves around continuous learning and adaptability. To keep pace with the rapidly evolving technological landscape, workers are embracing certifications and online courses.
According to a collaborative study by IBM and LinkedIn, 60% of Indian professionals engaged in upskilling activities in the past year, showing a keen interest in digital marketing, blockchain, and cloud computing. Specifically, enrollment in digital marketing and AI-focused micro-courses has surged by over 400% from 2023 to 2024, reflecting the market’s rapid adaptation to digital-first strategies.
The Indian government, recognizing this shift, has allocated a significant portion of its education budget in 2023, reportedly increasing funding by 50% for digital learning.
Corporate investments in employee learning and development have mirrored this trend, with a reported 200% increase in corporate-sponsored enrollments in micro-credential courses by December 2023, according to TCS, with India poised to further solidify its position as a global hub for skilled professionals adept at navigating the challenges of a digital economy.
Homemakers and education – Unconventional strides in Skilling in India
Homemaker women in India are increasingly exploring upskilling and working from home as a viable option to contribute to their families’ incomes while managing household responsibilities.
The pandemic has significantly influenced this trend, with job searches for remote work in India soaring, complemented by the increasing access to the internet available to women. According to a report by Forbes India, by 2025, 65% of all new internet users will be women.
On the other hand, the proliferation of remote work in India has triggered significant transformations, particularly in the domains of upskilling and career progression. There has been a notable 47% increase in productivity among companies embracing the work-from-home paradigm, with an overwhelming 82% of employees expressing a preference for this mode of work in 2023. This surge in remote work opportunities has emerged as a catalyst for professional development facilitated by work methodologies from home, thereby bridging the skill-demand gap.
India’s journey towards becoming a skilled nation is characterized by ambitious initiatives and collaborative efforts across generations. While significant progress has been made in skilling school students, university students, and professionals, the evolving nature of work and technology calls for continuous adaptation and investment in learning.
