Nurturing Human Capital Through Education

Ў§Nurturing Human Capital through All - Inclusive & Dynamic EducationЎЁ

The world reckons & beckons. . . . . .India Inc

Ў§India is a developed country as far as intellectual capital is concernedЎЁ

- Jack Welch, General Electric

Ў§We came to India for the costs, stayed for the quality and are now investing for innovationЎЁ

- Dan Scheinman, Cisco System Inc.

India has long been known for the diversity of its culture, for the inclusiveness of its people and for the convenience of geography. Today, the worldЎ¦s largest democracy has come to the forefront as a global resource for industry in manufacturing and services. Its pool of technical skills, its base of English speaking populace with an increasing disposable income and its burgeoning market have all combined to enable India emerge as a viable partner to global industry. Investment opportunities in India are today perhaps at a peak. Supported by IndiaЎ¦s natural strengths, the country offers investment opportunities in excess of $500 billion in diverse sectors over the next five years.

IndiaЎ¦s competitiveness from a natural and human resources standpoint is making it the destination of choice for investors. An unparalleled resource of educated, hard-working, skilled and ambitious workforce is the hallmark of IndiaЎ¦s human capital. That this workforce is also one of the worldЎ¦s youngest, adds to IndiaЎ¦s attractiveness as an investment destination. Of the BRIC* countries, India is projected to stay the youngest with its working age population estimated to rise to 70% of the total population by 2030 - the largest in the world. By then, the country is expected to have an additional 200 million people entering the job market. English is the language of business in India and the large English speaking workforce is a benefit to investors and employers. In fact, more Indians know English than the population of the USA. IndiaЎ¦s diverse cultural heritage puts Indians at ease with people from other cultures, and vice versa. With over 380 universities, 11,200 colleges and 1,500 research institutions, India has the second largest pool of scientists and engineers in the world. Over 2.5 million graduates are added to the workforce every year including 400,000 engineers and 150,000 IT professionals.

India has tremendous labor cost advantage as far as daily or monthly wage rates are concerned and the Indian Industry would do well in intellectual labor areas like R&D, healthcare, IT products, high-end and low-end education and many such services.

But there are severe limitations due to

1. Poor quality of training and skills

2. Non-professional approach

3. Low productivity and Labor laws.

Indian industry is understood to be on the threshold of a twin transformation wherein,

„П Multi national companies have been looking at India as an attractive investment destination.

„П Indian companies are looking at going global.

The role Human Resource is very significant for this transformation to be successful.

„П In the context of the former, the onuses are on making the vast talent base in the country globally competitive and standardize levels of performance.

„П In the latter, if Indian companies have to attract and retain global customers they have to reduce the high levels of attrition by maintaining a stable and empowered workforce.

In this paper we study the causes and the effects of the above issues and design strategies to overcome these barriers in order to have a highly geared, empowered and competitive human resource to embrace global opportunities that knock on the doors of Indian businesses.

Is India Struggling With Labour Shortage???

In a country where double-digit industrial growth rates have become par for the course, employers in as many as 20 sectors ranging from retail to textiles to financial services are facing extreme labor shortages, according to a new study. It isnЎ¦t just a fight for the highly qualified. The study by the Federation of Indian Chambers of Commerce and Industry found shortages