The government and the IT industry have come together and launched FurtureSkills Prime–an end-to-end re-skilling/up-skilling destination to transform the talent story of the country.
It is an aggregator learning platform offering globally competitive curriculum, aligned with the industry, and approved by the government. The initiative aims to reduce the talent gap in technologies such as AI, IoT, Data Analytics, cloud computing and other emerging technologies.
As part of the journey to transform the digital learning landscape in India, the Incentives are a unique yet affordable program, whereby potential learners can upskill in ten of the most in-demand advanced technologies and earn incentives up to Rs 14,500.
Launching the platform on Friday, Minister of State for Electronics and IT, and Skills and Entrepreneurship, Rajeev Chandrasekhar, said the government has committed about Rs 450 crore to the skilling initiative.
“Skilling should not be seen as entry-level only, but as a continuous dynamic ladder of skilling, upskilling & reskilling. The Industry must forecast the new skills required. The private sector must act as the early warning system- as training, financial and employment stakeholder. As we go up the value chain, the competition will be more intense,” said Chandrasekhar.
Employees in both IT and non-IT firms, young professionals seeking a career in emerging technologies, central & state government employees, PSU officials and autonomous bodies, fresh hires, interns, and apprentices, all can benefit from this reimbursement program. The government of India will give reimbursement of Rs 8,000 or 50% of the course fee (whichever is lower) for the deep skill courses, Rs 3,000 or 50% of course fee (whichever is lower) for the foundation courses and Rs 3000 or 50 per cent of course fee (whichever is lower) for Bridge Courses.
Chandrasekhar further added: “The skill intensity must match the competition intensity. This is a serious inflection point for us.”
India’s demand for Digital Talent jobs is currently 8x larger than the available talent pool and is expected to rise to 20x by 2024. By FY2024, the demand for professionals in emerging technologies is projected to increase by 38% while an increase in employed talent remains at just 29% as per a Nasscom report.
Rekha Menon, Chairperson, Nasscom & Sr. MD, Accenture said, “The launch of FutureSkills PRIME is a huge step by the government to derive benefits in the form of a future-ready talent that would facilitate both, the Government & the Industry to innovate at a much faster pace”.
RishadPremji, Chairman, WIPRO said that “India has become one of the biggest IT destinations for enterprises globally with its pricing competitiveness and quality talent. FutureSkills PRIME is ushering a robust paradigm to develop core competencies in emerging technologies. Willingness of companies to look at alternative talent pools will enable people to pick up courses that are relevant to industry, thereby bridging the digital talent gap”.
CP Gurnani, MD & CEO, Tech Mahindra, said, “The pandemic has compelled us to look not only at digital skills but also at business transformation, which ultimately means that technology is the glue binding the new world together. It is easily available, but we must harness it to its full potential. This is possible through dynamic platforms like the AI-enabled FutureSkills Prime, which is agile in responding to the rapidly changing needs of the market.”
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