Latest news with #Start-UpIndia
The Hindu
4 days ago
- Business
- The Hindu
Don't merely enrol students, but equip them with skills
As the admission season for colleges and universities begins, institutions across India are once again promoting their programmes under banners promising knowledge, transformation, and research excellence. This growth in enrolment at the undergraduate, postgraduate, and PhD levels suggests a dynamic academic landscape full of potential. Yet, beneath this expansion lies an important challenge: degrees are proliferating faster than meaningful job opportunities. A gap that needs attention According to data released by the Ministry of Statistics, the unemployment rate in India tends to increase with higher education levels. This paradox reveals a critical gap between academic achievement and employability — a gap that requires urgent attention. This challenge is particularly acute in India's vast network of non-elite institutions in Tier 2 and tier 3 colleges, where most students pursue BA, BCom, or BSc degrees and their corresponding master's programmes. These institutions often face resource constraints and limited industry connections, operating with curricula that have not kept pace with the evolving job market. While elite colleges make headlines for placement challenges, the gradual erosion of employability in everyday colleges often goes unnoticed. In many such institutions, instruction remains largely theoretical, with limited emphasis on real-world skills. For example, an English literature student might study Shakespearean tragedy yet miss out on learning practical skills such as writing professional emails. Similarly, an economics graduate may understand complex theories but struggle with everyday tools such as Excel. This disconnect means millions of educated young people find it difficult to translate their degrees into career opportunities. This situation stems partly from a deeply entrenched academic culture that values scholarship and abstraction over practical application. Within many academic circles — even prestigious ones — higher education is often celebrated as an end in itself, while immediate employment is sometimes subtly undervalued. Postgraduate degrees and PhDs are frequently pursued not just for intellectual fulfilment but as a refuge from the job market, creating a cycle where many graduates end up teaching in the very colleges that perpetuate the same system. It is important to recognise that successive governments have acknowledged this issue. Initiatives such as Skill India, Start-Up India, and the National Education Policy have pushed for skill development, vocational training, and entrepreneurship. However, the transformation remains incomplete. Many undergraduate and postgraduate programmes continue to emphasise rote learning over practical skills. While new courses in AI or entrepreneurship are being introduced, they often lack depth, and integration into the broader curriculum. A broader societal challenge Countries such as China and Japan have successfully aligned education with economic strategies by elevating technical and vocational education to a central role in workforce development. In India, vocational training is still often perceived as a fallback option, both within academia and society. This stigma limits the appeal and effectiveness of skill-based education, despite its vital role in economic empowerment. This contradiction highlights a broader societal challenge: degrees are highly valued as symbols of upward mobility, but they increasingly fail to guarantee it. This is not a call to abandon liberal education or abstract learning — they remain essential for critical thinking and creativity. However, education must also provide tangible economic benefits. Degrees should offer pathways to agency and dignity, especially for students from smaller towns and under-resourced institutions. A way forward lies in integrating practical skill modules — communication, digital literacy, budgeting, data analysis, hospitality, tailoring, and health services — into general degree programmes as core elements, not optional extras. Doctoral education should be diversified to prepare candidates for policy, analytics, consulting, development, and industry roles, not solely academia. Research remains vital, but it must be pursued by those inclined towards it. Finally, the widespread aspiration for government jobs reflects the limited opportunities graduates currently perceive. While these roles remain important, expanding private sector and entrepreneurial pathways through improved employability will offer youth a broader range of options. Enhancing skills and opportunities can reduce the over-dependence on competitive exams. India's growing economy demands an education system that not just enrols students, but equips students with skills. Viewing education as a social contract that guarantees a meaningful connection between learning and livelihood is essential. Gourishankar S. Hiremath teaches Economics at IIT Kharagpur. Views are personal
Coin Geek
05-05-2025
- Business
- Coin Geek
India emerging as a nation of job creators: RBI
Getting your Trinity Audio player ready... India, the fastest-growing major economy in the world, is witnessing a significant shift from being a nation of job seekers to one of job creators. A growing number of graduates, particularly from engineering and management backgrounds, are choosing the path of entrepreneurship, driving a surge in startup activity across the country. To harness the full potential of its vast talent pool, India must continue to ascend the global value chain, according to Sanjay Malhotra, Governor of the Reserve Bank of India (RBI). He was speaking at the U.S.-India Economic Forum organized by the Confederation of Indian Industry (CII) and US India Strategic Partnership Forum (USISPF), Washington DC. 'To take further advantage of the huge human resources, we need to move further up the value chain,' the RBI governor emphasized. India's startup ecosystem is flourishing and fueled by supportive government initiatives such as Start-Up India, Digital India, and the Atal Innovation Mission. The country now ranks third globally in terms of the number of unicorns—privately held startups valued at over $1 billion. These unicorns are increasingly found in cutting-edge sectors like artificial intelligence (AI), financial technology, and clean energy, Malhotra informed. India's cultural shift towards innovation and self-employment has led to the emergence of around 150,000 officially recognised start-ups. 'When I left college, getting a job in a[n] MNC was the preferred choice. None took up the challenge of starting a venture of his own. In recent years, however, a large number of engineering and management graduates are taking to entrepreneurship and start-ups. As a result of the entrepreneurship culture that this generation is embracing, we have about 150,000 recognised start-ups,' Malhotra said. India's commitment to innovation is also reflected in its impressive climb on the Global Innovation Index, moving to 39th position in 2024 from 81st in 2015. It currently leads among lower-middle-income nations. The RBI governor's comments follow closely on the heels of remarks made by U.S. Vice President JD Vance, who highlighted the strong potential for collaboration between the United States and India in technology and innovation. During a four-day visit to India in April, Vance emphasized the natural synergy between American advancements in hardware and artificial intelligence and India's dynamic, rapidly expanding startup landscape. According to Vance, the United States continues to lead globally in developing high-end AI hardware, while India boasts one of the most promising and energetic technology startup ecosystems in the world. Vance noted that this complementary strength positions both nations to benefit immensely through deeper cooperation in emerging technologies and entrepreneurial ventures. India's digital growth boosts economy 'India's digital transformation, recognised worldwide, has emerged as a significant enabler of ease of doing business and ease of living and an important driver of economic growth and innovation. Conducive government and regulatory policies, increasing digital penetration, and a young and aspiring demography have fostered this vibrant ecosystem,' Malhotra said in his speech. The RBI governor said that the government has invested in several digital building blocks like the JAM trinity, Unified Payments Interface (UPI), GSTN, ONDC, Digilocker. Digitalization improves efficiency, raises productivity, enhances formalization, and promotes inclusiveness in the economy. 'Take any domain of the government and one will find that digitalisation and e-governance have enhanced turnaround times, reduced costs and improved customer satisfaction levels,' Malhotra pointed out. 'I was here last year in one of the sessions to speak about how, among other measures, digitalisation in the department of revenue not only enhanced the tax buoyancy but also improved customer experience and processing of returns… On an average, it now takes less than 10 days to process income tax returns in India: down from 93 days in 2014. In contrast, in some countries, it still takes months to get their tax refunds,' Malhotra added. The Reserve Bank is also promoting and nurturing digitalization and innovation, with the UPI as one example. UPI processes about 18 billion monthly transactions, setting global benchmarks in seamless, secure, real-time systems. UPI has also demonstrated how public digital infrastructure can empower private sector innovation to promote financial inclusion. 'Our encouragement and support extend beyond the payment space to the broader fintech ecosystem through various initiatives including the regulatory sandbox. The Unified Lending Interface (ULI), which is currently in a pilot phase, has the potential to transform the lending space. The ULI is expected to transform lending and access to finance just as UPI did to payments,' Malhotra said. The ULI was designed and developed by the Reserve Bank Innovation Hub (RBIH), a subsidiary of the RBI. Launched as a pilot program in August 2023, RBI's ULI is expected to completely transform credit delivery in the country. It is a technology platform built to facilitate access to authenticated data from various sources through a standardized Application Programming Interface (API) to which all lenders can connect seamlessly through a plug-and-play model. Watch: 'Disruptive' blockchain can be useful for India title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Hans India
05-05-2025
- Business
- Hans India
SRM AP catalyses launch of 100 women-led Startups
Vijayawada: ADITRI, the flagship event by the Directorate of Entrepreneurship and Innovation, witnessed the launch of 100 women-led startups at SRM University, Amaravati. The momentous launch and machinery distribution & technical know-how transfer ceremony was inaugurated by Dr Chandra Shekhar Pemmasani, Minister of State for Rural Development & Communications, Government of India. Dr Pemmasani handed over machinery and certificates to the women entrepreneurs and stated, 'Everyone wishes to be an entrepreneur. But it takes perseverance, courage, and sacrifice to actually pursue that path. The women here have shown that with passion and initiative, anything is possible.' The Minister lauded the contribution of SRM AP University, the grassroot level efforts of its Centre for Social Entrepreneurship on achieving this huge social change milestone. He also enumerated the myriad schemes such as MUDRA, Lakhpati Didi, Start-Up India, and Stand-Up India, as well as the digital platforms such as Facebook, YouTube, WhatsApp, and so on, using which entrepreneurs can learn and grow. The event saw the participation of more than 1,500 individuals along with SRM AP's Vice Chancellor, Prof Manoj K Arora; Pro-Vice Chancellor, Prof Ch Sathish Kumar; Registrar, Dr R Premkumar, Deans, Directors, and members of the faculty, staff, and students. ADITRI, the Rural Women Micro-entrepreneurship initiative of SRM AP, is committed to empowering rural women, enabling them to be self-reliant, and improving their livelihood access. This mission also addresses critical gaps such as the lack of market access and resource acquisition.
The Print
28-04-2025
- Business
- The Print
Youngsters in India now prefer entrepreneurship over MNC jobs, earlier, none took up challenge of starting ventures: RBI Governor
Highlighting the shift, Malhotra said, 'When I left college, getting a job in a MNC was the preferred choice. None took up the challenge of starting a venture of his own. In recent years, however, a large number of engineering and management graduates are taking to entrepreneurship and start-ups.' New Delhi [India], April 28 (ANI): Reserve Bank of India (RBI) Governor Sanjay Malhotra said that the mindset of India's young generation has changed remarkably over the years, with many now preferring to become entrepreneurs rather than seeking jobs in multinational companies (MNCs). The Governor stated this during his speech at the US-India Economic Forum, organised by the Confederation of Indian Industry (CII) and the US-India Strategic Partnership Forum (USISPF), in Washington DC. He pointed out that this growing culture of entrepreneurship has helped India build a strong start-up ecosystem. Today, the country has around 150,000 recognised start-ups, supported by government initiatives such as Start-Up India, Digital India, and the Atal Innovation Mission. Malhotra said that India now has the third-largest number of unicorns in the world, with several emerging from high-tech sectors like Artificial Intelligence, fintech, and renewable energy. He also noted that India has improved its position significantly in the Global Innovation Index, climbing from the 81st rank in 2015 to the 39th position in 2024. Among lower-middle-income countries, India now ranks first. Emphasising the importance of using India's vast human resources effectively, Malhotra said, ' It is encouraging to note that India is fast becoming a nation of job creators rather than job seekers.' Speaking on government reforms, the RBI Governor said that digitalisation of various schemes, such as linking the public distribution system with Aadhar, has led to massive savings. The just-in-time flow of funds to state governments has also helped the Union government manage its cash flow better. He said 'Digitalisation of various government programmes like public distribution scheme with Aadhar as the backbone have also resulted in huge savings. Just in time flow of funds to State government has helped the Union government improve its cash flow management. He also added that initiatives like the Direct Benefit Transfer (DBT) have significantly improved the efficiency of government spending, with savings of around 40 billion USD recorded until March 2023. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
