Project report for Skill training & motivational classes

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Introduction

Skills and awareness are the driving forces behind every country's economic and social growth. Countries with higher and greater talent levels are better able to adapt to the demands and prospects in the workplace. As India steps closer to being a "information economy," it is becoming increasingly important for the country to concentrate on skill development, which must be applicable to the developing economic climate. India's Gross Domestic Product (GDP) must rise at a steady rate of 8% to 9?ch year in order to meet the twin goals of economic growth and inclusive development. Just about 8% -9% of the existing population of about 450 million are employed in the organized/formal market. Just about 5% of India's population has marketable skills, compared to 50 percent to 60 percent in other countries. The enormity of the problem is underscored by the fact that about 12 million people are predicted to enter the workforce next year.

The demand for skilling in India is expected to rise as a result of the current socioeconomic situation. Business Consultants, strategist corporate personalities like Shiv Kheda, Vivek Bindra are some of the well-known Motivational Speakers and skill development pioneers. The network is expanding like never before and so is the skill development and motivational classes Industry. In 2020, India's average age was 29 years, with 65 percent of the people (15–59 years old) in the working age group. If nourished and trained for the future, India's emerging young population of 830 million will be an opportunity not just for India but also for the ageing developing world. The capacity growth and motivating classes industry must take up the task of the Indian Youth's aspiration flag bearer to take advantage of this vast pool of workforce and realise the shortcomings of the services sector to absorb the unskilled and semi-skilled labour force.

Market potential & Strategy

Along with that several Government led initiatives and departmental efforts have also boosted the growth of this sector likewise, the Ministry of Labour and Employment's Directorate General of Employment and Training oversees a substantial portion of the current vocational training infrastructure, including Government ITIs and Private ITCs (DGET). The National Council on Vocation Training (NCVT) is an important player in the development of training curriculum, regulations, and requirements, as well as qualification through the "trade test." The National Skill Development Corporation (NSDC) was formed under the Ministry of Finance's (PPP) mode as a Section-25 Company to provide feasibility gap funding and manage private sector initiatives.

India's GDP is forecast to rise at a CAGR of about 8% over the next few years, up to 2022. With these rates of expansion, we estimate that by 2022, the economy will employ about 500 million people. In order for an economy to maintain this pace of growth, the population must be subjected to some level of skilling (which may be achieved by higher/technical education, vocation skills, or a mixture of both). As a result, it is projected that by 2022, India will need a trained population of 500 million people. While the future seems promising, a framework is needed to properly align information seekers with knowledge providers. The L&D sector in India is well-organized. Private companies manage it, and trainers have few options for reaching out to their seeker audience. Despite India's lauded educational framework, it falls short of adequately imparting skill orientation in certain areas. The majority of recent graduates begin their careers as generalists. For most aspirants, knowing what work to take and if it really aligns with their personal goals is a distant thought. Despite of all these odds, the Industry has the tendency to appeal for the patronage of government and with increasing aspirations of the Young population, the industry appears to be very promising.

 

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