Lack of employable skills among Indian youth for jobs is “worrisome” and professional institutions should help improve employability, President Pratibha Patil said.
The President who delivered a key note address at Indian School of Business (ISB) in Hyderabad on Monday, said it is estimated that the economy faces a shortfall of two lakh engineers, four lakh graduates in other fields and 1.5 lakh vocationally trained workers.
“Its a worrying sign that even though the third largest number of graduates in the world every year is produced in India, only 15 per cent of our boys and girls passing out of college have the skills required to become employable! This brings in concerns that students are getting degrees, but not getting employable hands-on skills,” Patil said.Government has set-up the National Skills Development Corporation – a Public Private Partnership – to skill 500 million people by 2022 and institutions like the ISB should not only participate in it, but through interaction with the business world, help in developing the required skills, she said.
The objective of an educational institution is to prepare its students to meet the competitive environment of a knowledge based and technology driven world, which is driving change at a rate that necessitates rapid adaptability and the ability to invent and to re-invent, she said.
“As a society transforms, its education system must respond to change. Its only then, that will it be relevant. Educational institutions must create the human resource capacities required for the times,” the President said in her speech.
The corporate world should design their business models in such way that it can go hand in hand with growth that is beneficial to society, she said.
Patil said that the most successful corporate of the world are the ones which have a commitment not only towards the shareholders of their company, but indeed to society at large.
Andhra Pradesh Governor ESL Narasimhan and CM Kiran Kumar Reddy also spoke on the occasion.