Prime Minister Narendra Modi champions India's rise as a hub of affordable intellectual power, crucial for future global economic leadership. With AI reshaping industries, India's focus on skilled professionals sets it apart. Backed by evidence like 1,700 Global Capability Centres and a surge in educational institutions, India's workforce is adapting. The nation's AI talent pool is growing, positioning it as a leader in the AI landscape with a strategic vision for the future.
Prime Minister Narendra Modi recently highlighted India's ascension as a leading source of affordable intellectual power during a conclave. With Artificial Intelligence (AI) and robotics poised to revolutionize labor markets, India's focus on 'affordable intellectual power' could propel it to the forefront of global economic activities, particularly in manufacturing. While China has historically relied on 'cheap and abundant' labor, the future lies in intellectual prowess over cheap labor.
PM Modi's assertions are backed by concrete evidence - India currently hosts over 1,700 Global Capability Centres, employing over 2 million highly skilled professionals. The educational landscape has also witnessed remarkable growth, with a new university opening every week and two colleges inaugurated daily in the past decade. India's medical colleges have doubled, and the number of institutions featured in the QS World University Rankings has tripled, showcasing the nation's intellectual strength.
The implementation of the New Education Policy by the Modi government underscores India's commitment to fostering a workforce with high employability. The India Skill Report 2024 indicates a threefold increase in vocational training among the workforce since 2017, while a Mercer study reveals that 48% of Indian graduates are well-equipped for roles in AI and Machine Learning. This demonstrates a robust talent pool ready to meet the demands of the rapidly evolving tech sector.
Moreover, the Mercer study highlights promising employability rates in non-tech roles, with Financial Analysts, Human Resources Associates, and Business Analysts leading the pack. The importance of cognitive skills like problem-solving and creative thinking is emphasized as critical for success in the modern workplace.
India's advantage in AI skills is undeniable, with a significant talent gap expected to reach 213,000 by 2022. The nation currently boasts 416,000 AI and data science professionals, positioning it as a global leader in the AI landscape. The World Economic Forum anticipates a 22% shift in job roles by 2028, largely influenced by the rise of AI positions.
The Future of Jobs Report 2023 underscores the need for businesses to enhance supply chain resilience, with India emerging as a prime destination for intellectual and skilled workers in AI and Big Data. The nation's democratic setup and stable, reform-oriented government make it an appealing choice for global businesses seeking to navigate the evolving labor market post-Covid.
Recognizing the potential, the Modi government approved the national-level IndiaAI mission with a substantial budget in March 2024. This initiative aims not only to establish India as a global AI hub but also to safeguard the nation's tech sovereignty, solidifying its position as a key player in the future of technology-driven economies.
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