Government and IT industry came together and launched FurtureSkills Prime, an end-to-end skills retraining / upgrading destination to transform the nation’s talent story.
It is an aggregator learning platform offering a globally competitive, industry aligned, government approved curriculum. 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 transformation of the digital learning landscape in India, Incentives are a unique yet affordable program, through which potential learners can hone their skills in ten of the most demanded cutting-edge technologies and earn up to Rs 14,500 .
At the platform’s launch on Friday, Minister of State for Electronics and Computing, and Skills and Entrepreneurship Rajeev Chandrasekhar said the government is committed to the level of around 450 crore rupees in the skills initiative.
“Competences should not be seen only as an entry level, but as a continuous dynamic ladder of competence, development and retraining. Industry must anticipate the new skills required. The private sector must act as an early warning system – like training, part of employment. As we move up the value chain, the competition will be more intense, ”said Chandrasekhar.
Employees of IT and non-IT companies, young professionals seeking careers in emerging technologies, central and state government employees, PSU officials and autonomous bodies, new recruits, interns and apprentices can all benefit from this reimbursement program. The Indian government will reimburse Rs 8,000 or 50% of course fees (whichever is lower) for advanced skills courses, Rs 3,000 or 50% of course fees (whichever is lower) for courses base and Rs. 3,000 or 50 percent of course fees (whichever is lower) for bridge courses.
Chandrasekhar added, “The intensity of the skills has to match the intensity of the competition. This is a serious inflection point for us.”
India’s demand for digital talent jobs is currently 8 times larger than the available talent pool and is expected to increase 20-fold by 2024. By FY 2024, the demand for tech professionals emerging markets is expected to increase by 38% while an increase in employed talent remains at just 29% according to a Nasscom report.
Rekha Menon, President of Nasscom & Sr. MD, Accenture said: “The launch of FutureSkills PRIME is a big step forward for the government to reap benefits in the form of future-ready talent that would help the both government and industry innovate at a much faster rate ”.
RishadPremji, President of WIPRO, said, “India has emerged as one of the top IT destinations for businesses around the world due to its price competitiveness and quality talents. FutureSkills PRIME inaugurates a solid paradigm for developing core competencies in emerging technologies. The willingness of companies to seek alternative talent pools will allow people to take courses relevant to the industry, thereby bridging the digital talent gap ”.
CP Gurnani, Managing Director and CEO of Tech Mahindra, said, “The pandemic has forced us to look not only at digital skills, but also at transforming the business, which ultimately means technology is the glue that binds the new world together. It is readily available, but we need to harness it to its full potential. This is possible thanks to dynamic platforms such as AI-enabled FutureSkills Prime, which is agile to meet the rapidly changing needs of the market. “