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Developed states not adding to skill sets; face big gaps: Study

New Delhi, May 26 (UNI) The most economically developed states are not adequately adding to skill sets, which may result in the severe shortages of skilled manpower in the coming years, with Maharashtra leading the table followed by Tamil Nadu.
According to an ASSOCHAM-Thought Arbitrage Paper, other states which lack in creating skilled manpower include Haryana, Gujarat, Kerala, Himachal Pradesh and Punjab, said the paper.
By 2022, the biggest deficit in supply of skilled labour force is expected to be faced by Maharashtra, with the number pegged at 48.9 lakh persons, according to the paper. Tamil Nadu comes close second with shortage of 46.3 lakh.
"These two states together account for more than 70 per cent of the skills deficit in these seven states (mapped by the paper) with highest per capita NSDP and large skill gaps. Haryana and Gujarat are expected to face shortage of approximately 13 lakhs and 11 lakhs persons respectively by 2022. Kerala, Himachal Pradesh. and Punjab are likely to witness skills shortage of about five lakhs each by 2022," it said.
In terms of verticals, construction, building and real estate would have incremental human resource requirement of 31 million in the next five years, while retail sector would need about 17 million additional work force.
Other sectors generating employment opportunities through skill up- gradation include beauty and wellness (10 million), transportation and logistics (12 million), furniture and furnishing (7.2 million) and handloom, handicrafts (6 million). Textiles and clothing would require additional 6.3 million people and tourism and hospitality 6.5 million.
"Our mapping of the skills shortages suggest that committing resources to training and skill upgradation would serve the twin purpose of employment creation as also helping the industries to grow in a cost effective manner," said ASSOCHAM Secretary General D S Rawat.
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Delhi HC notice to RBI, Govt, GSTC over circular to ban crypto currency

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22 Apr 2018 | 11:07 PM

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Mahindra Electric and Meru join hands to deploy Electric Vehicles

22 Apr 2018 | 4:44 PM

Hyderabad, Apr 22 (UNI) On the occasion of Earth Day, Mahindra Electric, part of the diversified USD 19 billion Mahindra Group and Meru, the pioneer of tech enabled cab services on Sundy announced a collaboration for a pilot EV project in Hyderabad with the intention to replicate the same model in other cities soon.

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India's growth to expand 7 4 pc in next fiscal: RBI Governor

India's growth to expand 7 4 pc in next fiscal: RBI Governor

22 Apr 2018 | 2:10 PM

New Delhi, Apr 22 (UNI) India's growth is expected to expand at 7.4 per cent in the next fiscal, RBI Governor Urjit Patel said.

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Banks not investing enough on data infrastructue : Accenture

22 Apr 2018 | 1:04 PM

New Delhi, Apr 22 (UNI) A new report from technology major Accenture has found that many banks have not invested in the capabilities to verify the validity and accuracy of their data.

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IBC, RERA pitted against each other: Study

22 Apr 2018 | 10:50 AM

New Delhi, Apr 22(UNI) The two laws enacted in 2016 may have the best of intentions, but the Insolvency and Bankruptcy Code (Code) and the Real Estate (Regulation and Development) Act appear to be pitted against each other when it comes resolving interest of bankers and home-buyers, an ASSOCHAM- Thought Arbitrage paper said.

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