August 6, 2024: A recent study conducted by NITI Aayog has highlighted the substantial impact of the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) on India’s job market. Findings reveal that an overwhelming 94% of employers favor candidates who have undergone training through PMKVY, emphasizing its significant contribution to workforce readiness and employability nationwide.
The Ministry of Skill Development and Entrepreneurship (MSDE), established in November 2014, has been instrumental in advancing the Skill India Mission (SIM) under the Government of India.
This ambitious initiative aims to provide skill, re-skill, and up-skill training through an extensive network of development centers, colleges, institutes, and more, spanning various schemes like the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), Jan Shikshan Sansthan (JSS), National Apprenticeship Promotion Scheme (NAPS), and Craftsman Training Scheme (CTS) via Industrial Training Institutes (ITIs).
The National Skill Development Corporation (NSDC), tasked with implementing MSDE’s skilling schemes, has significantly contributed to these efforts. Programs such as PMKVY, NAPS, and market-led fee-based initiatives, including PM Vishawakarma, have been pivotal in addressing skill gaps nationwide. The cumulative impact of these initiatives is reflected in the number of individuals trained under NSDC’s programs as of June 30, 2024, detailed in the annexure.
NSDC Report: 70.5% Placements in Desired Sectors Post-PMKVY Training – NITI Aayog Study
A noteworthy evaluation conducted by NITI Aayog in October 2020 underscored the effectiveness of PMKVY. A staggering 94 percent of surveyed employers expressed willingness to hire candidates trained under PMKVY, highlighting the program’s relevance and impact on employment. Moreover, 52 percent of certified candidates reported securing higher salaries compared to their uncertified peers, validating the program’s role in enhancing employability.
Further reinforcing these findings, an independent assessment by the Indian Institute of Public Administration (IIPA) revealed that 70.5 percent of surveyed candidates secured placements in their preferred skill sectors through PMKVY.
Additionally, a tracer study published in 2018 focused on ITI graduates indicated that 63.5 percent of these graduates successfully found employment, highlighting the pivotal role of vocational training in facilitating job opportunities.
NSDC’s role extends beyond national borders, with studies regularly conducted to assess the demand for skilled Indian workforce globally. These initiatives are geared towards aligning India’s training programs with international market demands, ensuring that skilled personnel meet global standards.
The concerted efforts of MSDE and NSDC continue to shape India’s workforce landscape, empowering individuals across diverse sectors and catalyzing economic growth through enhanced skill development initiatives.
