Rs 5 lakh cr needed in 5 years for skill development: Rudy

The government today sought private sector's support to provide skill training to about 250 million people as the initiative requires a huge Rs 5 lakh crore funding in the next five years.
"Even as we talk about 250 million people, it would require Rs 5,00,000 crore in the next five years and that is the resources we need to move ahead. We need resources and we need partnership and support," Skill Development and Entrepreneurship Minister Rajiv Pratap Rudy said.
The mission, he said, would require at least Rs 20,000 spending on training of an individual for skill development.
"... By 2020 we would have to talk about 300 million people," Rudy said during GE Healthcare's launch of Healthcare Education and Training Institute.

The minister further said: "Its almost an unthinkable challenge ... I see participation of the industry which is huge in sectors as medical, health, auto, construction. I am sure that it a good beginning and we all have to come together".
Citing examples of other nations, Rudy said that China has 47 per cent skilled workforce, Australia has 60 per cent, Japan has 80 per cent while the UK and Germany have 68 per cent and 74 per cent, respectively.

In contrast, India has only 2 per cent skilled workforce.
GE Healthcare launched a programme in partnership with healthcare and education experts to set up health care education & training institutes under its skill India programme.

The company is aiming to train one lakh 12th standard pass students into healthcare professionals in the next five years under its accredited skill building programmes.
"The initiative is among the largest skill enhancement programmes for GE Healthcare in the world. This is a great example of how we can use our scale and experience to partner with India," GE Healthcare President and CEO John L Flannery said.
He further said: "We hope that the skilling of 100,000 healthcare professionals will address an important Government priority of bridging the skill deficit."
The company has opened skill training centres in Mumbai and Delhi, and has plans to open one centre in each state, he said.