In a rapidly evolving world, skills are increasingly becoming the currency of opportunity. Whether it’s adapting to technological change or participating meaningfully in the workforce, individuals and societies that invest in skills are better positioned to thrive. Skill development isn’t just a policy buzzword — it’s the foundation of sustainable employment, economic growth, and social well-being.
According to the World Bank, transformation in the workplace driven by automation, climate change, and digital technologies will affect more than 1.1 billion jobs globally over the next decade. Yet about 450 million youth — roughly 7 out of 10 globally — remain economically disengaged due to a lack of adequate skills to succeed in the labour market. Meanwhile, over 2.1 billion adults need remedial education in basic literacy, numeracy, or socio-emotional skills to stay relevant. These gaps cost economies trillions: closing them could add an estimated USD 6.5 trillion to the global economy over the next seven years.
Strong evidence shows that skills directly influence employment outcomes. Across OECD countries, individuals with higher proficiency in core skills like numeracy and literacy have significantly higher employment rates — as much as 92% employment for tertiary-educated adults with strong numeracy skills, compared to much lower rates for those with basic proficiency. Additionally, investing in skills correlates with higher wages and greater life satisfaction, reinforcing the idea that skills are central to economic security and personal well- being.
India’s demographic potential is immense, with one of the world’s youngest populations. However, only a fraction of this potential is fully realised through formal skills training. As per recent national surveys, formal vocational training remains low, with only around 4.4% of youth formally trained and a further 16.6% informally trained — leaving a large portion of the workforce without recognized job-ready skills. At the same time, employers report significant talent shortages, with roughly 75% of global companies struggling to find skilled workers — a situation mirrored in India.
Skill development goes far beyond employability alone. It fosters confidence, resilience, and independence. For women and underprivileged communities, targeted skills training can open doors to financial autonomy and dignity. When individuals gain market-relevant competencies, they are better equipped to contribute to society, innovate solutions, and build sustainable livelihoods.
Building a better world starts with empowering individuals through meaningful skills development. With clear vision, supportive policies, and collaborative effort, we can bridge skill gaps, fuel economic growth, and ensure that opportunities are shared widely. In essence, every skill learned today becomes another step toward a more inclusive and prosperous tomorrow.
