Skill-Building Is Key To Turning Into A Digital Economy

Digital India Skill Building

Today the digital technologies have become the foundation of innovation, disruption and widespread transformations happening globally, while at the same time it is drastically changing the social, economic and business landscapes across the globe. There is no doubt that, technology will continue to shape and redesign the world and will be the cause of what defines the modern economy.

Last year, 2016, proved to be the banner year for India, with coming up as the 6th largest economy in the world in terms of GDP, after the United States, China, Japan, Germany and France.

The Indian government is engrossed on developing a Digital India”, which will be an enabler for a digital economy. In fact, the statements by the Finance Minister in the recently presented Union budget clearly shows the thrust of the government towards India’s massive digital revolution; one which will help in eradicating black money and corruption. For instance, the BHIM app launched by the government, will help in unleashing the power of mobile handsets for digital payments and will enable financial inclusion also.

Till now there is no permanent blueprint to turn India into a digital nation, the core of any digital economy is the sector of Information and Communications Technology (ICT). India has a very strong ICT sector and a considerably large number of qualified ICT workers. The main requirement for these highly skilled persons is to keep ahead of the learning curve, when it comes to sharpen their digital skills, so as to come to grips with rapidly advancing technologies.

Hence, for India to achieve this ambitious goal, development of digital skills needs to take the centre stage.

Improving the digital skills across workplaces:

Global spending on digital technologies is expected to cross $2.1 billion by the end of 2019. According to the experts in the industry experts, digitally transformed institutes are 26% more profitable than their competitors. According to a study, more than 42,000 employers were surveyed globally and 40%of them are experiencing difficulties in filling up roles. In India, 58% of employers stated that finding replacements for job vacancies is becoming more-&-more difficult due to talent shortage.

The challenge not only lies in regard to fresh skilling and reskilling, the need is to develop digital skills for all Indians, not just those encompassing the ITES & IT industry. For India to become the most soughed digital marketplace, effective participation of Small and Medium Enterprises (SME) is an absolute must. However, SMEs today, are already under immense strain to invest in new ICT technologies to stay ahead. This holds true for start-ups as well. Larger organisations also need to invest heavily in digital up-skilling. Also job seekers and job holders need to constantly be up-scaling their skill sets.

Tackling the digital skills divide:

For India to become the best & main powerhouse of digital innovation, we all need to:

  • Foster a strong pipeline of young talent – With the rapid technological advancements, India needs a workforce which is skilled, innovative and adaptable. The talent of tomorrow must be nurtured today.
  • Encouraging the workforce to up-skill for enhancing digital adoption – In order to stay ahead for companies, it is important that they constantly invest in up-skilling their workforce.
  • Building on digital literacy and/or skills – Along with the promotion and adoption of technologies by businesses, it is also essential that workers using these technologies have the skills to leverage maximum benefits.
  • Cultivating digital entrepreneurship – Adoption of all types of technical skills is an integral part for the success of all entrepreneurs.

By implementing all these strategies on the ground, more-&-more Indians can become a part of the digital transformation which is sweeping across our country today. Collectively honing our digital prowess& skills will allow for a fast-changing and successful global economy wherein the youth, will be well prepared to tackle what lies ahead on the path of success.

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