India to become global employment hub amid global labor market shift

According to ANI, experts projections indicate that by 2050, nearly two-thirds of new entrants into the global workforce will come from lower- and middle-income nations. With over 65 per cent of its population under the age of 35, India is strategically positioned to supply surplus labour to meet international talent shortages.

Experts believe that to realise its potential as a global talent provider, India must strengthen its skilling ecosystem and align education and training with evolving industry needs.

Enhanced investment in skill development would not only increase domestic employment and productivity but also enable India to play a central role in bridging the global skills gap over the coming decades, the source claims.

Recently this year, the Indian government has approved a new programme called the Employment Linked Incentive (ELI) Scheme, aimed at creating jobs and improving social security. The plan was approved by the Union Cabinet, led by Prime Minister Narendra Modi.

The scheme focuses on helping both people who are entering the workforce for the first time and the employers who hire them. It places special attention on supporting the manufacturing sector. The government expects the ELI Scheme to create over 35 million jobs within two years.

Earlier, India has launched the national sports policy 2025 to become the global sporting powerhouse.