India’s economy expanded at an average 5.3% per year in the decade to 2022 (Source: The World Bank, Data). More than 100 million people will join the workforce between 2020 and 2023. India will provide 25% of the global workforce and contribute 15% of world GDP by 2047.
With rapid growth, the appetite for skills training is growing all the time. Indian Government initiatives to improve skills training cover 6 main areas:
- Vocational education through universities
- National Skill Development Corporation training
- Public and private industry-training institutes and polytechnics
- In-factory and on-the-job training and apprenticeships
- Skills-development schemes
- Professional development, including re-skilling and upskilling.
India’s National Education Policy
India’s National Education Policy (NEP) aims to bridge the education-skilling gap. It includes vocational education starting from Grade 6. The policy aims for 50% of secondary and tertiary education students to access vocational training by 2025.
The NEP:
- prioritises application-based learning and vocation-based education.
- integrates credits earned through education and training into the National Credit Framework.
- aims to provide vocation training through India’s 280,000 schools and 40,000 higher education institutions.
The NEP’s support for enhanced skills development in India creates an opportunity for Australian providers to support its vision.
Skills training programs in India
Government programs and global corporations offer skills training to help young people into skilled employment.
- PMKVY is the flagship scheme of the Ministry of Skill Development and Entrepreneurship. Its Skill Certification scheme targets youths. It has delivered industry-relevant training to 13 million students.
- DDU-GKY targets 18 to 35-year-olds in rural areas. The program has helped place over 52 million candidates in jobs.
- Multinational companies pay a premium for high-quality courses that make young people job ready.
Business model research and sector insights
Austrade has commissioned research into skills training opportunities in India. This suggests multiple models where Australian organisations can add value:
- Teaching and training expertise. Australian institutions can use ‘train the trainer’ models to improve teaching at universities and private institutions. This includes online and blended learning programs.
- Apprenticeships. Australian providers can help link industry, academic and vocational institutions. They can also monitor and improve quality.
- Course design at Skill Universities. These are institutions that focus on job-oriented courses. Australian providers can help design vocational degrees and diplomas.
- Microcredentials. Helping institutions and companies to develop and deliver skills-based certifications. These are increasingly popular.
- Qualification packs. These bridge the gap between qualifications gained overseas and those gained in India.
Sectoral opportunities in India
Australian skills training can help India meet the complex needs of a fast-growing workforce.
- Digital and future technologies. New technology courses are being developed at Industrial Training Institutes across India. This includes courses in AI, robotics, 3D printing, drone technology and telemedicine.
- Tourism and hospitality. According to a forecast by BusinessWorld, India will be among the top 10 tourism destinations by 2028. Job Growth in this sector is expected to grow by 5.5% p.a.
- Manufacturing and automotive. India’s manufacturing sector contributed 17% to India’s GDP in 2022. Major sectors include automotive, engineering, chemicals and pharmaceuticals.
- Renewable energy, water management and storage. India is the world’s third-largest market for energy. The country is investing in solar power and aims to generate half its power from renewables by 2030 (Source: IEA, India’s clean energy transition is rapidly underway, benefiting the entire world).
- Health and allied health. India’s healthcare sector was worth A$556 billion in 2022. The pandemic boosted adoption rates for medtech and e-health services, including remote medicine.
- Edtech education. India’s edtech and training market is set to grow from around A$1 billion in 2021 to around A$45 billion in 2030, according to Austrade officials.
- Oil, gas and METS. The Indian Government has relaxed restrictions on foreign investment in refineries and supply chains for natural gas and petroleum. Increased participation by multinationals will boost rapid growth.
- Infrastructure and construction. According to industry estimates, India will become the world’s third-largest construction market by 2024.
- Agriculture and associated industries. Indian agriculture is worth A$654 billion and employs almost 50% of the workforce. It is growing by around 5% per year.
Qualifications and markets
Australian vocational training has a high global reputation. This credibility can help Indian citizens qualify for jobs in target employment markets.
Australian training providers should know that their training has the potential to support India’s workforce with its global mobility. Austrade research indicates 2 particular markets where Australian vocational qualifications could help secure overseas employment.
Middle East
Potential roles include health assistants, childcare workers, elderly and disability carer roles, and health services assistants. In automotive, there is demand for motor mechanics and maintenance assistance for electric vehicles.
Europe
There is demand for care workers, carer roles, child workers, motor mechanics, vehicle service technicians, electric vehicle mechanics and technicians.
Doing business in India
The Go Global Toolkit can help you research export opportunities and regulations. These include visas, tax and product sectors.