If India can understand the core reasons behind the high and rising unemployment, it can be solved very effectively in a short span of time. There are various fundamental issues behind high unemployment in the country, some of which are-
Lack of skilled workforce- Various government schemes have come and gone but the demographics of our country is turning into a liability rather than a dividend. A mission mode focus on skilling India’s huge workforce in modern technologies like coding, video skills, digital marketing etc. can make our youth ready for the future.
Overhaul of curriculum in schools and colleges- the foundation of employment is laid in schools and colleges. The curriculum we follow is decades old. It fails to meet the need of modern economies. Whatever students learn in educational institutions unlearned in order to to learn new skills while on the job. There is a huge gap between demand of the modern industries and supply of colleges.
Tapping the established and recognized sectors- India has huge potential to generate high quality employment in sectors like tourism, organic farming, cottage industries, spiritualism etc. Higher productivity in these areas can bring us economic prosperity and good quality employment.
Focus on MSMEs- As per Ministry of labor, MSMEs are the highest employment provider in the manufacturing sector. If they are promoted by the government through targeted and focused schemes, they can fulfill employment needs of generations in the future.
Create new employment opportunities- The world is trying to find new employment opportunities due to the consistent threat of Artificial Intelligence. India must do the same to save its youth from high unemployment
Employment is one of the most important pillars in ensuring sustainable economic growth. If India wants to create a stable, sustainable and consistent development model, it needs to create immense employment opportunities for everyone working and expected to enter the workforce in the future.