Mumbai: The central government is preparing a two-pronged strategy to upskill India’s workforce in areas such as artificial intelligence and mechatronics, while encouraging private partnerships and adding R&D centers to meet the demand for skills across sectors.
“There is an urgent need to meet the technological needs of the new India and the Union budget focuses on upskilling the technology required in terms of setting up AI centers of excellence. This will ensure that we are poised to become the preferred technology-driven R&D hub for global conglomerates,” said AR Ramesh, director of digital business solutions, professional team, international engagement, Adecco.
Job creation was one of the three agendas of the Budget for FY24, in addition to strengthening macroeconomic stability as well as opportunities for citizens, especially the youth.
On Wednesday, Finance Minister Pradhan Mantri Kaushal Vikas Yojana 4.0, aimed at upskilling “lakhs of youth in the next three years”, will facilitate on-the-spot training in coding, AI, robotics, mechatronics, drones , Internet. of Things, 3D printing, and soft skills, “To equip the youth with skills for international opportunities, 30 Skill India International Centers will be set up across the States,” the FM said.
The budget provides a strong boost to growth and job creation and promotes macroeconomic stability, said Rituparna Chakraborty, co-founder and executive director of TeamLease Services. “However, access to rural talent must be addressed as part of these initiatives.”
In his budget announcements, the Finance Minister said that under the ‘Make AI in India’ and ‘Make AI Work for India’ campaigns, “three centers of excellence for Artificial Intelligence” will be established in educational institutions, and industry players and the institutions will be established. They are expected to come up with “scalable problem solving in the fields of agriculture, health and sustainable cities”.
The Budget will make provisions for 100 labs across engineering colleges to build applications around 5G services to support the 5G rollout by telecom companies. The labs will add “job potential” in areas such as smart classrooms, precision farming, smart transportation systems, and healthcare applications, she said.
Demand for jobs will come from emerging segments such as white space spectrum, virtual network operations, network security, IoT in big data, cyber security, 5G and cloud. “There was demand for 1.3 million talents in FY23 which is increasing. New use cases including cloud computing, robotics and IoT are also seeing significant growth. We believe the budget initiatives will be beneficial in closing India’s demand-supply gap of technical talent and manpower,” said Arvind Bali, chief executive officer, Telecom Sector Skills Council.
“There is also great potential in tourism which has entrepreneurial opportunities,” said the FM.
Milestone Alert!Livemint tops the charts as the fastest growing news website in the world 🌏 Click here for more information.
Get the latest Business News, Market News, Breaking News Events and News Updates on Live Mint. Download the Mint News App for Daily Market Updates.
Less
Updated: 02 February 2023, 01:08 AM IST
Denial of responsibility! vismuseum.org.in is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – at loginhelponline@gmail.com The content will be deleted within 24 hours.