The scale of training needed in India calculates a return on investment between 25 and 30 per cent for those investing in the skill sector. In this regard, a number of campaigns have been launched in the recent past.
An ambitious campaign for equipping the future of India was initiated with the launch of Skill India campaign in 2018. The initiative aims to facilitate the institutional capacity to train and up-skill 300 million people by the year 2022.
The Pradhan Mantri Kaushal Vikas Yojana of the Ministry of Skill Development & Entrepreneurship has enabled a large number of Indian youths to take up industry relevant skill training and secure better livelihoods. After the successful training of 1.98 million candidates PMKVY 2016-20 was launched with a total budgetary outlay of US$ 1.67 Billion.
The Government has allowed 100% FDI in the Skill and Training sector under the automatic route. Multinationals can enter into third country collaborations with the training providers in India, wherein they can sponsor the skill development of Indian youth as required by their units across the world.