Close Menu
    Facebook X (Twitter) Instagram
    • Our Story
    • Partner with us
    • Reach Us
    • Career
    Subscribe Newsletter
    HR KathaHR Katha
    • Exclusive
      • Exclusive Features
      • Research
      • Point Of View
      • Case In Point
      • Dialogue
      • Movement
      • Profile
      • Beyond Work
      • Rising Star
      • By Invitation
    • News
      • Global HR News
      • Compensation & Benefits
      • Diversity
      • Events
      • Gen Y
      • Hiring & Firing
      • HR & Labour Laws
      • Learning & Development
      • Merger & Acquisition
      • Performance Management & Productivity
      • Talent Management
      • Tools & Technology
      • Work-Life Balance
    • Special
      • Cover Story
      • Editorial
      • HR Forecast 2024
      • HR Forecast 2023
      • HR Forecast 2022
      • HR Forecast 2021
      • HR Forecast 2020
      • HR Forecast 2019
      • New Age Learning
      • Coaching and Training
      • Learn-Engage-Transform
    • Magazine
    • Reports
      • Whitepaper
        • HR Forecast 2024 e-mag
        • Future-proofing Manufacturing Through Digital Transformation
        • Employee Healthcare & Wellness Benefits: A Guide for Indian MSMEs
        • Build a Future Ready Organisation For The Road Ahead
        • Employee Experience Strategy
        • HRKatha 2019 Forecast
        • Decoding and Driving Employee Engagement
        • One Platform, Infinite Possibilities
      • Survey Reports
        • Happiness at Work
        • Upskilling for Jobs of the Future
        • The Labour Code 2020
    • Conferences
      • Rising Star Leadership Awards
      • HRKatha Futurecast
      • Automation.NXT
      • The Great HR Debate
    • HR Jobs
    WhatsApp LinkedIn X (Twitter) Facebook Instagram
    HR KathaHR Katha
    Home»News»Why is VET important?
    News

    Why is VET important?

    HRK News BureauBy HRK News BureauDecember 11, 2015Updated:September 19, 20183 Mins Read1836 Views
    Share LinkedIn Twitter Facebook
    Share
    LinkedIn Twitter Facebook

    In the UK, a 10 per cent increase in professional and technical skills over the next 10 years can  mean an increase in GDP by £163 billion by 2025.

    Across the world, VET (vocational education and training) is considered to be second to academics. However, a report by the City & Guilds Group, a global skills development organisation, suggests that vocational training and skilled workforce can actually enhance the economy of a country.

    For instance, in the UK, a 10 per cent increase in professional and technical skills over the next 10 years can mean an increase in GDP by £163 billion by 2025. Both in the US and the UK, a 10 percentage point increase in the number of 16–18 year olds enrolled in vocational education could lead to a 1.5 percentage point reduction in youth unemployment.

    What is required is a change in perception and the realisation that it will benefit societies, employers and individuals on a global scale.

    India, in fact, is still to catch up on this front. In the UK, 68 per cent of the workforce has undergone skills training and in comparison, only 2.3 per cent of the current Indian workforce has done so.

    Any increasing investment in VET could see significant returns for India’s economy. India is in a strong position to provide skilled labour where the rest of the world is forecast to experience a skills shortage, thanks to its booming youth population.

    As per reports, the US will experience a shortfall of 17 million skilled workers, while India will have a surplus of 47 million by 2022.

    The Minister of State (Independent Charge) for Skill Development and Entrepreneurship, Shri Rajiv Pratap Rudy, told the Upper House in a written reply that that there are over 70 skill development schemes across various sectors, implemented by over 20 Central Ministries/Departments to promote skilling across the country.

    On Thursday, Dec 10, a UK delegation led by UK Minister of State for Universities and Science, Jo Jonson, met Shri Rudy to explore areas of collaboration between the two nations, to strengthen the skill ecosystem. Jonson expressed interest in supporting the Ministry of Skill Development and Entrepreneurship (MSDE) to create eight new Centres for Excellence over the next few years.

    As per a Government release, the two ministers appreciated the collaboration between the two countries in the area of skill development and discussed the way forward to deepen the same under the UK-India Education and Research Initiative (UKIERI III), which will begin in April 2016.

    The UKIERI programme aims to deliver systemic changes in the educational and vocational training ecosystem, by focussing on capacity building and leadership development within these institutions.

    Ministry of Skill Development and Entrepreneurship MSDE NSDC Rajiv Pratap Rudy UKIERI III vocational education and training
    Share. LinkedIn Twitter Facebook
    HRK News Bureau

    1 Comment

    1. rajshekhar on December 11, 2015 6:53 am

      Organissations like ISA work in bridging gap between Industry and Institution esp in technology

      Reply
    Leave A Reply Cancel Reply

    5 × two =

    Related Posts

    Welspun Living and NSDC collaborate to upskill Indian textile workforce

    June 19, 2025

    Now Karnataka to raise max working hours to 10 per day

    June 19, 2025

    Meta offering $100 million bonuses to lure OpenAI talent? 

    June 18, 2025

    Employee turns suspension into vacation after refusing weekend work

    June 18, 2025

    QUICK HR INSIGHTS

    EDITOR'S PICKS

    How corporate prejudices are strangling innovation in the workplace

    June 19, 2025

    Psychological safety: the new superpower in winning the talent war

    June 18, 2025

    How entitlement is quietly reshaping the modern workplace

    June 18, 2025

    How Raymond stitched tradition to transformation

    June 17, 2025
    Latest Post

    How corporate prejudices are strangling innovation in the workplace

    Exclusive Features June 19, 2025

    In the gleaming conference rooms of corporate India, a familiar drama unfolds. The candidate speaks…

    Welspun Living and NSDC collaborate to upskill Indian textile workforce

    Diversity Equity & Inclusion June 19, 2025

    Welspun Living (WLL), the global home textiles firm and a part of the global conglomerate…

    Swiggy elevates Saurav Goyal to SVP-driver and delivery product & ops

    Movement June 19, 2025

    Swiggy, the Indian on-demand convenience platform has promoted Saurav Goyal to senior vice president-driver and…

    Pocket Entertainment elevates Umesh Bude to CTO

    Movement June 19, 2025

    Umesh Bude has been promoted to the position of chief technology officer (CTO), Pocket Entertainment,…

    Asia's No.1 HR Platform

    Facebook X (Twitter) Instagram LinkedIn WhatsApp Bluesky
    • Our Story
    • Partner with us
    • Career
    • Reach Us
    • Exclusive Features
    • Cover Story
    • Editorial
    • Dive into the Future of Work: Download HRForecast 2024 Now!
    © 2025 HRKatha.com
    • Disclaimer
    • Refunds & Cancellation Policy
    • Terms of Service

    Type above and press Enter to search. Press Esc to cancel.