Drivers and Challenges Associated with the Implementation of Skill Development in India: An Exploratory Factor Analysis Approach

Abstract

Skill development is a crucial aspect of economic growth worldwide, with India's youth experiencing higher unemployment rates than the overall population. The government has placed significant emphasis on skill development initiatives in recent years. The study identifies various drivers and challenges related to skill development in India, which are explained through factors like Employment Security (ES), Financial Support (FS), Skill Development (SD), and Livelihood Opportunity (LO). These factors help individuals and communities invest in avenues that align with their skill appetite. The identified factors help the government formulate policies, industry representatives absorb skilled manpower, and identify areas for further skill enhancement. Individuals can enroll in state and central government policies to enhance their skill set and become trained for the industry. The state and central government can evaluate beneficiary performance by taking feedback from industry representatives and using the developed model to strategize for continuations, discontinuations, and improvisations, ultimately enhancing the marketability of skill development programs.