Empowering India’s Youth Through Skill Development this International Youth Day
On the occasion of International Youth Day on 12th August, India underscores the significance of skill development in harnessing the immense potential of its youth. With a population of over 808 million individuals below the age of 35, India’s youth presents a formidable resource that can drive the nation’s growth and development.
Alok Bansal, CEO, Global Business Process Management, Visionet Systems, said “We are a young country with over 808 million of our citizens below the age of 35 and as the United Nations’ Sustainable Development Goals (SDGs) specify, we must invest in them to maximize their potential. It is their progress as a demographic that will determine India’s social and economic development and we need to recognize the challenges they are facing today when it comes to education equity, employability, and skilling. Vocational education, skill development, financial and digital literacy are critical to economic empowerment. Leading a technology-driven company has made me acutely aware of the skill gaps in the BFSI sector. I however believe that with intentionality and focus, skilling opportunities can be made accessible to even youth in Tier 2 and 3 cities. Every young Indian has the right to a sustainable livelihood and we need to identify the reasons why our youth population is still struggling to leverage technology and achieve socio-economic stability. I however am optimistic that with a collaborative synergy between public-private entities and the government along with a future forward vision, we can turn India’s youth population into a transformative force.”
Recognizing the vital role of skill development in shaping the future, numerous initiatives have been launched across the country to equip young Indians with relevant skills and knowledge. These programs target various sectors and industries, providing vocational training, technical proficiency, and digital literacy.
Nina Nair, Senior VP and HRD Head, India and Americas, [24]7.ai, said “India is home to almost one fifth of the world’s youth population . Our Youth come with a plethora of attributes that include creativity, agility, lateral and forward thinking, positivity ,adaptability, innovation and energy that have the potential to transform the nation and the world.
As we embrace the ever-evolving tapestry of technological progress, the International Youth Day provides us an excellent opportunity to celebrate the limitless possibilities that our young generations bring.
[24]7.ai has been empowering young minds over the last 23 years with the necessary skills to transition from campuses to the corporate workforce. We are committed to breaking down access barriers to the world of work, ensuring that the skills our teams acquire, not just keep them relevant today but also open doors to meaningful opportunities tomorrow. As we progress to being a more equitable and diverse workforce, the need to adopt green skills, that will allow today’s millennials and GenZs to meaningfully impact the creation of a resource-efficient society will be an important step for organisations in achieving the 2030 Sustainable Development Goal (SDG) where “no one gets left behind”.
The path towards a sustainable world demands the cultivation of skills that seamlessly merge digital acumen with ecological mindfulness – skills capable of harnessing renewable energy, minimising carbon footprints, optimising resource utilisation, and designing resilient infrastructures. Our company stands as a dedicated partner on this journey, prepared to establish collaborations, share knowledge, and provide platforms for young minds to flourish.
On this International Youth Day, let us embrace innovation as the bridge to a greener tomorrow, effectively transforming ‘Green Skills’ into a resounding global movement. Through mentorship, education, and collaborative endeavours, our aim is to magnify the voices of these burgeoning green leaders, arming them with the capabilities needed to lead a sustainable revolution.”
Manhar Garegrat, Country Head, India & Global Partnerships, Liminal, a wallet infrastructure and custody solutions platform, said “If we look at the rapid adoption of digital assets across the world, millennials have the highest ownership of digital assets across all generations (Bitget report). Millennials account for 46% of the total digital asset owners which clearly shows that youth is at the forefront when it comes to the acceptance and adoption of digital assets. The young population is naturally inclined towards emerging technologies and is always curious about exploring and expanding their horizons. Like youngsters of all generations, today’s youngsters are also extremely passionate about concepts like self-sovereignty, transparency, collective growth, freedom, etc and working in Web3 gives them the ability to contribute to those values. Take Vitalik Buterin for instance, the founder of Ethereum. He was only 19 years old when he wrote the Ethereum Whitepaper.
There are several such examples of young and successful web3 founders across the globe. If we look at India-specific data, 39% of digital asset owners are in the 18-30 years age group (Kucoin report). We see a similar trend in other Asian countries where the young population is not only adopting digital assets but fuelling the innovation in Web3 space through innovative startups for solving real-world problems by leveraging the strength of Web3/Blockchain. At a macro level, we have seen several initiatives by global organizations like UNICEF and the World Bank aimed at empowering our youth by providing training and development in the field of Blockchain and Web3.
Overall, the future of Web3 looks young and we are witnessing vital signs of success as major industries/sectors of the world are already in the adoption phase of web3. The demographic dividend of countries with a median age of 30-35 will ensure a bright and promising future for blockchain and Web3.”
Poorvi Sachar- Head of Operations, Tezos India- a blockchain adoption entity, said “Today, young talents are leading the way in making blockchain and Web3 technologies popular. They’re doing this with their creative spirit and a curiosity that knows no bounds. Their smart ideas are like seeds of change, helping create a world where things like services and products are spread out and not controlled by a single group.
We saw this happening at the latest Tezasia Hackathon 2023 organized by Tezos India. More than 9,888 young men and 4,337 young women actively participated in the hackathan. What’s interesting is that 55% of them were studying computer science and they wanted to get better at their tech skills by using tools from Tezos India. College students are getting involved too. They’re joining workshops, hackathons, and real-world projects. Especially those in the third and fourth years of college are taking the lead in creating this kind of environment. But it’s not just them – even folks with 1-2 years of professional experience are excited to be part of these hackathons. Together, they’re not just going with the flow of new ideas; they’re playing a big role in shaping these ideas. They’re showing us how technology can become more decentralized and stronger.
Young and inquisitive minds quicken the development of decentralized ecosystems through active participation in hackathons, startups, and open-source cooperations. They are steadily fostering a future where diversity, trust, and security are seamlessly woven with technology as tomorrow’s leaders, in addition to promoting mainstream adoption.”
Mr. Navdeep Sharma, Co-Founder, ReelStar said, “The youth in our country are at the forefront of driving the next wave of growth and innovation. As digital natives, their expectations from social media platforms have naturally evolved, and they now demand more from these platforms. They seek sustainable monetization options, increased accountability from platform providers, and a robust data security framework.
In this context, decentralized social media platforms have emerged as a beacon of hope for young creators. These platforms offer unprecedented opportunities for monetizing creativity, aligning perfectly with India’s booming creator economy, projected to grow at an impressive rate of 25% annually. Despite the abundance of budding creators in India, studies reveal that only a fraction of them, around 150,000, are able to earn or monetize their work. This limitation significantly impacts their motivation for creativity and poses challenges in content production.
This is where ReelStar comes into play. With ReelStar, our vision is to empower creators worldwide by leveraging the vast potential of Web3. By enabling young creators to sell or trade NFTs (Non-Fungible Tokens), ReelStar aims to provide them with a path to full ownership of their content and community. This move not only fosters creativity but also works towards democratizing the media and entertainment industry, giving more power to the creators themselves.
ReelStar strives to be a catalyst for change in the social media landscape, offering a transformative platform that allows young creators to monetize their efforts, regain control of their work, and contribute to a more inclusive and vibrant media and entertainment ecosystem.”
Sachin Alug, CEO, NLB Services, said , “In a bid to empower the budding generations, International Youth Day is observed worldwide on the 12th of August. Enhancing education and employment opportunities is one of the major concerns for countries and economies. With tech-fused roles gaining momentum, there are plenty of success avenues for the youth to excel in, provided they are well-prepared for by both businesses, policy-makers, strategists, and all stakeholders involved.
Digitization, of late, has been so rapid that being merely tech-savvy hardly cuts it anymore. Even in our everyday lives, we must understand technology to take its assistance and go about our days. Imagine being someone whom this tech revolution relies on. Today, tech professionals fuel products, industries, and economies. Underscoring the importance of digital skills, a report in 2021 suggested that India would need about nine times more tech workers by 2025 to sail through digital transformation. It was also noted that an average tech worker in the country would need to learn seven new technical skills to thrive. With a couple more years to take stock of said predictions, a few tech talent trends are too clear to miss.
Accelerated by the pandemic, technology has continued to penetrate various sectors and industries. Leaders are becoming increasingly eager to harness the full potential of tech and expand business models and product offerings. Young tech professionals are at the very frontline of this new vigor in the market infused by innovative and creative approaches to problem-solving. From IT/ITes to essentially non-tech domains such as retail, manufacturing, healthcare, education, eCommerce, BFSI and more are going bullish on tech hiring, causing the demand for tech talent to spike and the gap between demand and supply to widen further.
While it’s great news for tech students, aspirants, and professionals, it also necessitates certain steps they must take to make the most of this tech-dependent talent landscape. The age of hyper-disruption and automation makes it inevitable for the youth to upskill in various domains to protect their careers. It has been observed that digital skills turn obsolete every 2.5 years. Areas like Big Data Analytics, AI/ML, Full Stack, DevOps, Cloud Computing, Cyber Security, etc. are teeming with opportunities for skilled professionals who are readily deployable. To leverage these opportunities, one must upskill constantly and tirelessly.
While mastery of niche tech skills is non-negotiable, ideal digital professionals must possess a portfolio that also encompasses a range of behavioral skills deemed mandatory for long-term success. Skills like Creative Thinking, Communication, Problem Solving, Eagerness to Learn, Adaptability, etc. are some of the must-acquire strengths to make a mark in any industry and role. “
