MSDE, WEF Launch ‘Skills Accelerator’ to Strengthen India’s Workforce
New initiative aims to bridge skill gaps, boost employability, and align training with emerging sectors like AI, green energy, and advanced manufacturing.
The Union Ministry of Skill Development and Entrepreneurship (MSDE) has signed a Memorandum of Understanding (MoU) with the World Economic Forum (WEF) to strengthen India’s skills and Technical and Vocational Education and Training (TVET) ecosystem. This ecosystem includes skill centres, Industrial Training Institutes (ITIs), and polytechnics that provide practical training for jobs and careers.
Under the MoU, the ministry and the WEF will launch a ‘Skills Accelerator’ in India, a multi-stakeholder platform designed to identify, scale, and implement innovative solutions while exploring public–private partnerships to address critical workforce skill gaps. According to MSDE, the initiative will help align skilling programs more closely with industry needs and global economic trends.
The implementation of the MoU will be guided by a governance framework with co-chairs from both the government and private sector, working alongside the WEF. MSDE will set the strategic direction for the Skills Accelerator, coordinate stakeholder engagement, and contribute to monitoring and impact assessment.
Jayant Chaudhary, Minister of State (Independent Charge) for MSDE, called the launch of the India Skills Accelerator a “key milestone in building a future-ready, globally competitive workforce.” He added, “By bringing government, industry, and education together, the initiative strengthens coordinated action to address current and emerging skill gaps, enable outcome-based skill financing, and promote lifelong learning aligned with global labour-market demand.”
The Skills Accelerator aims to bridge critical skill gaps, enhance the global employability of India’s youth, and prepare the workforce for emerging sectors such as artificial intelligence (AI), green energy, robotics, and advanced manufacturing.
Sanjiv Bajaj, co-chair of the India Skills Accelerator initiative and chairman and managing director of Bajaj Finserv Ltd., said, “With over 500 million people under the age of 25, skilling India’s youth is central to converting our demographic advantage into economic leadership.”