Meghalaya wants to gain from China's ageing population

With an eye to China's ageing workforce, Meghalaya Thursday decided to set up three skill development centres to train youths to help them step into the anticipated job spaces, specially in the manufacturing sector.

"It is expected that in the next five to 10 years, because of the ageing population in China, many of the manufacturing giants, which are at the moment operating from China, would be shifting to other regions and India with a young population would gain," Chief Minister Mukul Sangma told reporters here.

Keeping this in mind, the Meghalaya cabinet approved setting up of three skill development "centres of excellence" to train students in the manufacturing sector in collaboration with US-based computer software company, Parametric Technology Corporation (PTC) Limited.

PTC would invest to the tune of Rs.160.56 crore in these three centres, while the Meghalaya government will have to invest around Rs.15.55 crore.

Initially, the Meghalaya government has decided to create three centres of excellence - in the existing polytechnics of Shillong, Jowai and Tura - where the global firm would train around 2,500 students in each of the centres.

"These centres would impart students' skills in the manufacturing sector and high-end courses such as development of machines, advanced tool making and similar other courses would be taught," Sangma said after chairing a cabinet meeting.

Moreover, he said the manufacturing sector would open up huge opportunities in creating an environment, where investments and job opportunities would be created, provided India has the manpower required for these manufacturing giants.

"These exercise would help the state not only in countering the human capital development but also create job opportunities for the unemployed youth in the state and the region," Sangma said.

China's population above 60 years of age is expected to exceed 300 million by 2025 and hit 30 percent by 2050. While India is set to become the world's youngest country by 2020 with 64 percent of its population in the working age group.

India's population in the age group of 15-34 years increased from 353 million in 2001 to 430 million in 2011. Current predictions imply a steady increase in the youth population to 464 million by 2021, and a decline to 458 million by 2026.