Innovation in India
To promote youth development, 15 July is celebrated as World Youth Skills Day across the world, as declared by the United Nations at its General Assembly in November 2014. According to a latest UN report, India has the world’s largest youth population of 356 million aged 10-24 year-olds, but only 3% of India’s total population is skilled. Therefore, it is a challenge for young people, who are searching for financial security, personal satisfaction and sense of purpose that comes from meaningful employment.
Young people are almost three times more likely to be unemployed than adults and continuously exposed to lower quality of jobs, greater labor market inequalities, and longer and more insecure school-to-work transitions. In addition, women are more likely to be underemployed and under-paid, and to undertake part-time jobs or work under temporary contracts. Unfortunately, existing systems are failing to address the learning needs of many young people. According to a recent International Labour Organization (ILO) publication, 73.4 million young people were estimated to be unemployed in 2015 (13.1% youth unemployment rate), and this figure is expected to increase in most regions by 2017.
The UN designated day seeks to generate greater awareness of and discussion on the importance of technical, vocational education, and training and the development of other skills relevant to both local and global economies. It is hoped that it will contribute to reducing unemployment and underemployment among the youth across the globe.
Among other countries, India has initiated youth development via the broad spread of activities. India is offering business development and mentoring underprivileged entrepreneurs. Since the program began, more than 1,200 youth entrepreneurs have emerged, generating more than 11,700 new jobs. Every year, National Innovation Foundation, India organises ‘Dr. A P J Abdul Kalam IGNITE Awards’ to promote youth excellence.
