13th India Skill Report Highlights India's Workforce Development
The Ministry of Skill Development and Entrepreneurship has released the 13th India Skill Report, an annual publication by ETS. The report underscores a significant decline in India's unemployment rate, from 6.0% in 2017-18 to 3.2% in 2023-24, as per the Periodic Labour Force Survey by the Ministry of Statistics and Programme Implementation. Additionally, 4.1% of people aged 15-59 years have received formal vocational training, while 30.6% have gained skills through informal means. India continues to be a global hub for talent development, supported by bilateral agreements with eight countries aimed at facilitating skill exchange and mutual recognition of qualifications. These efforts enhance India's role as a preferred source for skilled talent, aligning with international standards and practices.
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