The construction sector, anticipated to reach $1.4 trillion by 2025 and employing 71 million people, plays a crucial role. However, studies reveal that only 19% of the workforce is skilled, with 4.4 million being core skilled employees (engineers, technicians) and 6.9 million being vocationally trained.?
The 12th Five Year Plan (2011-15) in China highlighted the significance of apprenticeship with the motto, “One who gets trained gets a job, and one who has a job gets training.” This mantra prioritized the quality of economic growth over its pace, aiming to benefit a broader segment of the Chinese population. This strategy has allowed China to cultivate a high-quality human capital pool in the past decade, effectively addressing the shortage of skilled workers and professionals. As India strives to position itself as the world’s third-largest economy, the construction sector, anticipated to reach $1.4 trillion by 2025 and employing 71 million people, plays a crucial role. However, studies reveal that only 19% of the workforce is skilled, with 4.4 million being core skilled employees (engineers, technicians) and 6.9 million being vocationally trained.?
A recent study by Knight Frank and the Royal Institution of Chartered Surveyors (RICS) identified the pressing need for skill development in India, driven by both internal and external factors. Approximately 63% of the working-age population in India will actively seek employment, and there is a shortage of skilled workers globally due to an ageing population. This underscores the importance of bridging the domestic skill gap, as more skilled Indian employees are likely to migrate to meet overseas demands. Apprenticeship models emerge as a viable solution to address this need and create more opportunities.
