Arindam Lahiri’s (CEO, ASDC) Perspective on Union Budget 2022-23 and Opportunities for Youth Employment

As an industry and skill domain expert, I am thrilled to see the focus on empowering our youth in this Union Budget. The announcement of PM Kaushal VikaasYoajna 4.0, with its emphasis on industry partnership and alignment of courses with industry needs, is a major step towards skilling the Indian youth in new age courses such as robotics, and mechatronics that are essential for industry 4.0.

The establishment of 30 Skill Indian International Centers and the Skill India Digital Platform will provide our youth with international opportunities and access to formal skilling and entrepreneurship schemes. The direct benefit transfer under the pan-India national apprenticeship promotion scheme, providing stipend support to 47 lakh youths, will further enable them to grab the latest skilled and job opportunities.

I am also pleased to share that we have identified new areas of work, including electric vehicles, industry 4.0, sustainability, safety, and diagnostics, where we are not only providing an entry-level curriculum but also exploring ways to upskill and reskill the existing workforce. This continuous process of updating our curriculum to stay contemporary and relevant is crucial as technology is constantly changing.

With the Economic Survey forecasting EV sales to touch 1 crore units by 2030, the skilled workforce in the automotive industry will play a crucial role. The importance of skilled individuals in this industry cannot be overstated, and PMKVY 4.0 will help our youth grab the latest skilled and job opportunities in this field. I am confident that these initiatives will transform the skilling landscape in India and provide our youth with the skills they need to succeed in the rapidly changing world of work.