Effective strategies to resolve unemployment and underemployment issues in India

My article published in BSE brokers’ Forum, Mumbai.

IMG-20170602-WA0034

Effective strategies to resolve unemployment and underemployment issues in India

  1. Creating a vocation-based education system
  2. Local approach, global vision
  3. Reallocation of resources
  4. Woman empowerment
  5. Early rise to entrepreneurial spirit
  6. Spiritual approach to material abundance

The first and foremost need to resolve our job issues is to accept that modernisation and urbanisation have brought us to that fragile situation wherein unemployment and underemployment is one of the most destructive factors in the economic development of India. Ours is a country with skills and rich resources, but we have failed to take the advantage of our endowments. We have let others snatch this advantage for their benefit before we are thoroughly benefited. The need of the hour is ‘shift’. A shift in the vision, a shift in the resource allocation.

We are facing not only unemployment but also the crisis of underemployment. Underemployment primarily correlates with the empowerment of women and the youth as well as an underutilisation of multidisciplinary talents and skills. Whether underemployment is the cause or consequence of these factors remains an unexplored question.

Our education system needs major reforms. Currently, it is only information- and knowledge-based, whereas it should also have a vocation-based element. Information or knowledge would just form a part of this vocation-based system. We can also create education-related collaborations with institutions that have a proven record of placements, using which early employment can be generated. Creating vocational education in more fields can also add practical skills in teaching so people are better matched with their jobs. Skilling programmes conducted by companies for specific skill requirements for unemployed people can work well.

We are rich in resources but very diverse regionally. This makes it more important for the government and corporates to take advantage of local conditions and make the best use of it to create employment opportunities, thereby having a global vision to gear up the economic development. The strategies should take due consideration of local resources, traditional skills and local needs and then support it through infrastructure and technology.

Corporates and individuals having surplus funds should focus on new entrepreneurial opportunities that create a demand for the excess availability of labour. The natural resources should be utilised in a way that it first suffices local needs before been shifted to other regions. This needs delicate analysis and strict measures.

Women empowerment should also be on the top of our agenda. Women are multitalented and capable enough to take the responsibility of households as well as have economic independence. Economic independence of women can gear up economic development of the entire country. This would also have alleviating effects on several social problems faced by women (domestic violence, for example). This is a chain reaction.

Yet another underutilised power in our country is the power of youth. Our social conditions supress our youth from gaining early-age knowledge and experience and, hence, skills. This kills the entrepreneurial and creative spirit within them and negates economic development by large. We need institutions to nurture their skills and provide the infrastructural facilities to unleash their talents. We in India must begin to bring shift.

Resources are rich and abundant for everyone in this world. One must know how to utilise them. Trust and security need to be instilled. When the minds at government level and higher corporate level would shift to this, the automatic benefit will reach at the lower levels. Scarcity exists only in our minds and not in nature.

With this shift at the core and all other remedial measures on hand, we can surely resolve unemployment in India.

Thank you

Neysa Sanghavi – ‘Pura Vida’ Pure Life

Student IBDP 11, Singapore International School

+91 98202 26117

astroneysa@gmail.com

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