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Growth Prospect in Technical & Vocational Education & Training in India

India is fast emerging economy and has demographic advantage. Globalization has been responsible for exponential changes in the society. The banking, financial and insurance sector is growing @ 45% and the demand for financial professionals is increasing phenomenally. To supplement the support system of Chartered Accountant and MBA (Finance), atleast 15 people required in critical support functions in the finance sector. A study by the National Skil Development Council, Planning Commission, GOI has indicate a demand of additional 100 Lac certified Accounts, Finance, Retail, Sales & Computer Executives. The industry estimates say that nearly 85% of all graduates in India are unemployable since they do not have the required skill sets.

The pace of change is mandating that we produce a faster, smarter, better grade of human being. Current systems are preventing that from happening. Future education system will be unleashed with the advent of a standardized rapid courseware-builder and a single point global distribution system.”

Below are some unknown facts about education in India

  •   India has about 500 million unskilled employable people to be trained by 2020.
  •   Only 2-4% of the population learns a skill or trade
  •   Just one out of nine children finishing school joins a college. India has one of the lowest higher education enrollment ratio of 11 per cent. In the US it is 83 per cent.
  •   To meet its target of increasing enrollment levels to 15 per cent in 2012, the Eleventh Plan estimates that India needs to invest Rs 2,26,410 crore. Yet it has set aside only Rs77,933 crore-just a fourth of the total needed.
  •   The shortage of good institutions has seen cut-off percentages for entry into good colleges soar to genius levels.
  •   The quality of school education hasn't improved. A recent study found that in rural north India on an average day, there is no teaching activity in about half” of the primary schools
  •   Lack of technical expertise and basic communication skills are impediment in employment.
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