LAL BAHADUR SHASTRI INSTITUTE OF MANAGEMENT (LBSIM)

India requires a significant focus on reskilling, especially given rapid technological advancements driven by AI (artificial Intelligence), data analytics, data-driven decision-making, and automation. Reskilling and upskilling are key to the nation¡¦s economic growth and catering to most people. NEP 2020 (National Education Policy) has a vision of preparing India¡¦s workforce for the future economy, focusing on lifelong learning, multidisciplinary education, and practical, industry-relevant skills.

The technology disruption is creating a skill gap, and job roles are transforming in all sectors. The large Indian workforce and new graduates lack several essential skills and are considered unemployable by many Indian industry leaders. Let us dwell on the skill gaps and how to address them to meet current and future industry needs. AI, machine learning, cloud computing, and data analytics drive the Industry 4.0 revolution. It provides a boost to cost optimisation through automating routine tasks and creating tech-centric job roles. This makes many existing skills obsolete in less agile academic curricula.

New-gen companies place greater weight on specific, demonstrable skills, agility, and adaptability rather than degrees and diplomas. A skilled workforce is crucial for India to realise its economic growth potential, and a shortage of it would seriously undermine the vision of ¡¥Viksit Bharat 2027¡¦. Automation threatens to displace many jobs, but it also creates millions of new tech jobs, requiring workers to ¡§unlearn and relearn¡¨. The most in-demand skills are Artificial Intelligence, Machine Learning, Data Analysis and Interpretation, Cloud Computing, Cybersecurity, and Digital Marketing.

However, in this digitalisation and AI melee, the ability to communicate well, collaborate, think critically, solve problems, and adapt and be agile are of paramount importance. The Central Government, through its arms such as the Ministry of Electronics and Information Technology (MeitY) and Future-Skills PRIME, aims to reskill IT manpower in emerging technologies. Several other ministries are investing heavily in on-the-job training, internships, offering flexible learning schedules, and partnering with ed-tech platforms to provide practical, industry-relevant training. NEP 2020 aims to have everyone contribute to building resilience through sustainable skills. Education should be more hands-on and industry-relevant, with more vocational courses seamlessly embedded in students¡¦ journeys from the 6th standard onwards. For that to succeed, we should remove the stigmas associated with vocational courses. NEP 2020 champions multidisciplinary and flexible learning.

Academic silos should be broken down to ease students¡¦ transitions in and out of various educational levels. Policy and a mental shift are required to absorb shocks, such as allowing students in higher education to combine fields like engineering with music or economics with data analytics. This flexibility was unheard of in the existing policies of CBSE, AICTE, or UGC, which poses a serious challenge as of today.