Market Research Report : Vocational Training Market in India 2012Netscribes, Inc.
For the complete report, get in touch with us at : info@netscribes.com
Vocational training market in India was valued at INR 90 bn in 2011 and is slated to grow at a CAGR of 23%. Government has set a target of preparing 500 mn skilled workers by 2022, as around 75-80 mn jobs will be created over the next 5 years and 75% of them will require vocational training. The market is poised for strong growth over the next few years owing to favourable government support.
The report begins with an introduction to the education market in India and its various sub-segments. Indian education system largely consists of formal and informal sectors, with the formal sector accounting for the major share. A macro overview of the Indian education system is also included, which throws light on some of the key indicators such as literacy rate in India, demographic split in education, budget allocation for education and five year plan outlay for education. This section also includes the vocational training policy framework present in India.
The market overview section gives an insight into the overall education market in India along with the vocational training market, their market size and growth. This is followed by the key segments and applications of vocational training. In India, it is present in both formal and informal sectors and has wide applications in areas such as IT, BFSI, retail, aviation and others. The education and vocational training structure in India is also provided. Additionally, an analysis of Porter’s Five Forces provides an insight into the competitive intensity and attractiveness of the market.
An analysis of the drivers and challenges explains the factors leading to the growth of the market including huge demand for skilled workers, low vocational training penetration, increasing government expenditure, growth in service sector and inefficiency in formal education system. The key challenges identified are low quality of inputs and lack of finance.
The government participation in this sector has also been highlighted in the report, and includes government bodies, government initiatives and associated bodies. Ministry of Human Resource Development and Directorate General of Employment & Training are the two key government bodies in this sector. Government initiatives largely comprise of National Policy on Skill Development, Skill Development Initiative Scheme, Craftsmen Training Scheme, National Vocational Qualification Framework and National Vocational Educational Qualification Framework. Industry associations impacting vocational training segment constitutes of FICCI, CII and ASSOCHAM. Foreign collaborations in this sector include countries like UK, Canada, Germany, Switzerland and Australia. International bodies like International Labour Organization, World Bank and European Union, also contribute to the vocational education and training segment in India.
Ministry of labor and employment in pursuance of excellence in vocational training has developed Skill Development initiative (SDI) scheme based on Modular Employable Skills (MES) framework in close consultation with industry, state governments and experts. SDI scheme is a five year project during which one million persons would be trained for their existing skills, tested and certified under Modular Employable Skills (MES) framework. Under this scheme.
More than 1400 courses listed under MES scheme
550 crores allotted for the scheme .
1 Million students will be trained per year
Vocationalization of Secondary Education: The Open Schooling PerspectiveCEMCA
Presentation by Dr. SS. Jena at the National Consultative Workshop on Developing NVEQF Implementation Strategy for Open Schooling, 20-21 June, 2013, Kochi.
Market Research Report : Vocational Training Market in India 2012Netscribes, Inc.
For the complete report, get in touch with us at : info@netscribes.com
Vocational training market in India was valued at INR 90 bn in 2011 and is slated to grow at a CAGR of 23%. Government has set a target of preparing 500 mn skilled workers by 2022, as around 75-80 mn jobs will be created over the next 5 years and 75% of them will require vocational training. The market is poised for strong growth over the next few years owing to favourable government support.
The report begins with an introduction to the education market in India and its various sub-segments. Indian education system largely consists of formal and informal sectors, with the formal sector accounting for the major share. A macro overview of the Indian education system is also included, which throws light on some of the key indicators such as literacy rate in India, demographic split in education, budget allocation for education and five year plan outlay for education. This section also includes the vocational training policy framework present in India.
The market overview section gives an insight into the overall education market in India along with the vocational training market, their market size and growth. This is followed by the key segments and applications of vocational training. In India, it is present in both formal and informal sectors and has wide applications in areas such as IT, BFSI, retail, aviation and others. The education and vocational training structure in India is also provided. Additionally, an analysis of Porter’s Five Forces provides an insight into the competitive intensity and attractiveness of the market.
An analysis of the drivers and challenges explains the factors leading to the growth of the market including huge demand for skilled workers, low vocational training penetration, increasing government expenditure, growth in service sector and inefficiency in formal education system. The key challenges identified are low quality of inputs and lack of finance.
The government participation in this sector has also been highlighted in the report, and includes government bodies, government initiatives and associated bodies. Ministry of Human Resource Development and Directorate General of Employment & Training are the two key government bodies in this sector. Government initiatives largely comprise of National Policy on Skill Development, Skill Development Initiative Scheme, Craftsmen Training Scheme, National Vocational Qualification Framework and National Vocational Educational Qualification Framework. Industry associations impacting vocational training segment constitutes of FICCI, CII and ASSOCHAM. Foreign collaborations in this sector include countries like UK, Canada, Germany, Switzerland and Australia. International bodies like International Labour Organization, World Bank and European Union, also contribute to the vocational education and training segment in India.
Ministry of labor and employment in pursuance of excellence in vocational training has developed Skill Development initiative (SDI) scheme based on Modular Employable Skills (MES) framework in close consultation with industry, state governments and experts. SDI scheme is a five year project during which one million persons would be trained for their existing skills, tested and certified under Modular Employable Skills (MES) framework. Under this scheme.
More than 1400 courses listed under MES scheme
550 crores allotted for the scheme .
1 Million students will be trained per year
Vocationalization of Secondary Education: The Open Schooling PerspectiveCEMCA
Presentation by Dr. SS. Jena at the National Consultative Workshop on Developing NVEQF Implementation Strategy for Open Schooling, 20-21 June, 2013, Kochi.
Dlf Foundaton is running many programs for labor which is very helpful for their skill development. In these programs Dlf Foundation is providing skill to employed youth and Labors so that they can earn their livelihood easily For more infor visit dlffoundation.in.
Role of vocational education training (vet) policy in creating high skill soc...Awais e Siraj
Dr. Awais e Siraj Managing Director Genzee Solutions, A Strategy, Balanced Scorecard, Scenario Planning, Competency Based Human Resource Management Consulting Company
Ppt report on current issues (reforms on tech-voc education and training)Lyn Agustin
Technical-Vocational Education and Training Reforms
The Technical Vocational Education and Training reforms consists of four (4) major components, namely:
1. Quality Assured Philippine TESD System
2 .TESDA Occupational Qualification and Certification System
3. Unified Program Registration and Accreditation System
4. TVET Quality Awards
Abstract
Youth age group (15-24) is a great asset to a nation, because youth being a working age population if properly trained and prepared for world of work could bring revolution in the economy of a country. Therefore, developed countries give greater emphasis to youth’s training and education to prepare youth for world of work. In develop countries, to prepare youth, especially school leaver’s vocational training schemes were introduced at secondary and high school level. However, in developed countries the ratio of edging population is increasing as compared to the youth working age population, whereas in developing countries including Pakistan the youth population is rapidly increasing. There is a need that we take advantage of this demographic dividend and prepare our youth for world of work. This paper highlights the importance of vocationalization in youth employment. In the paper youth’s employment trend and its relation with education and training were discussed. In the country, causes for failure of past efforts made for vocationalization of general education were examined. Worldwide available different modes for vocational training and effective models were analyzed and suitable model for vocationalization of general education in the country is proposed in this paper.
Vocational Education Training (VET): A Boost for Skill Development in IndiaATUL RAJA
India has set a goal of up skilling 500 million additional workers by 2022 and Vocational Education Training (VET) will be key to its fulfillment. This will determine if India will reap its demographic dividend or will lead to a demographic disaster.
Centum Learning offers end-to-end skill building programmes focusing on improving the employability quotient of aspirants. Centum Learning‘s proven expertise in capability building can partner you to fulfill both business and CSR goals.
India corporate training market,Business Model in India Corporate Training Ma...Ken Research Pvt ltd.
India Corporate Training Market Forecasts to 2020 - Incremental Allocation of Training Budgets in MSMEs and PPP in Skill Development Initiatives to Propel Growth" which provides a comprehensive analysis of the corporate training market in India. The report covers various aspects such as overall size of India corporate training market, segmentation on the basis of demand from major sectors, training services, industry, mode of learning, training demand from level of employees, major cities, demand for open and customized learning, different learning tools, learning modes, demand from small medium and large organizations, and demand from MNCs and domestic organizations.
Dlf Foundaton is running many programs for labor which is very helpful for their skill development. In these programs Dlf Foundation is providing skill to employed youth and Labors so that they can earn their livelihood easily For more infor visit dlffoundation.in.
Role of vocational education training (vet) policy in creating high skill soc...Awais e Siraj
Dr. Awais e Siraj Managing Director Genzee Solutions, A Strategy, Balanced Scorecard, Scenario Planning, Competency Based Human Resource Management Consulting Company
Ppt report on current issues (reforms on tech-voc education and training)Lyn Agustin
Technical-Vocational Education and Training Reforms
The Technical Vocational Education and Training reforms consists of four (4) major components, namely:
1. Quality Assured Philippine TESD System
2 .TESDA Occupational Qualification and Certification System
3. Unified Program Registration and Accreditation System
4. TVET Quality Awards
Abstract
Youth age group (15-24) is a great asset to a nation, because youth being a working age population if properly trained and prepared for world of work could bring revolution in the economy of a country. Therefore, developed countries give greater emphasis to youth’s training and education to prepare youth for world of work. In develop countries, to prepare youth, especially school leaver’s vocational training schemes were introduced at secondary and high school level. However, in developed countries the ratio of edging population is increasing as compared to the youth working age population, whereas in developing countries including Pakistan the youth population is rapidly increasing. There is a need that we take advantage of this demographic dividend and prepare our youth for world of work. This paper highlights the importance of vocationalization in youth employment. In the paper youth’s employment trend and its relation with education and training were discussed. In the country, causes for failure of past efforts made for vocationalization of general education were examined. Worldwide available different modes for vocational training and effective models were analyzed and suitable model for vocationalization of general education in the country is proposed in this paper.
Vocational Education Training (VET): A Boost for Skill Development in IndiaATUL RAJA
India has set a goal of up skilling 500 million additional workers by 2022 and Vocational Education Training (VET) will be key to its fulfillment. This will determine if India will reap its demographic dividend or will lead to a demographic disaster.
Centum Learning offers end-to-end skill building programmes focusing on improving the employability quotient of aspirants. Centum Learning‘s proven expertise in capability building can partner you to fulfill both business and CSR goals.
India corporate training market,Business Model in India Corporate Training Ma...Ken Research Pvt ltd.
India Corporate Training Market Forecasts to 2020 - Incremental Allocation of Training Budgets in MSMEs and PPP in Skill Development Initiatives to Propel Growth" which provides a comprehensive analysis of the corporate training market in India. The report covers various aspects such as overall size of India corporate training market, segmentation on the basis of demand from major sectors, training services, industry, mode of learning, training demand from level of employees, major cities, demand for open and customized learning, different learning tools, learning modes, demand from small medium and large organizations, and demand from MNCs and domestic organizations.
Vibrant Gujarat Summit on Skill Ecosystem sector designVibrant Gujarat
Skill development has become vital for sustainable economic growth, especially for countries giving ways to emerging opportunitiesWith the emergence of technologies and innovations in different parts of the world, it has become imperative for the governments to prioritize skill development to compete globally.Stake holders of the skill development industries from the trainees to the eminent policy makers of the sector spoke volumes about the popularity of not only the conference but the underlying concern for an evolving skill development sector.
Skills gap: reality or myth?
The presumed mismatch between the skills of the workforce and the needs of employers, commonly referred to as the “skills gap,” has garnered the attention of politicians, employers, economic developers, and professionals in workforce and education. A number of authoritative sources—Manpower, Deloitte, McKinsey—point to statistics which show that, despite relatively high levels of unemployment, a number of jobs are going unfilled because employers can’t find candidates with the skills they want. This issue will be the subject of discussion led by TIP’s president and CEO, Tom Stellman, at the Texas Economic Development Council’s 2013 Legislative Conference this week. Get a preview of his slides here.
Several factors are contributing to this gap, including an aging workforce, an education system focused on 4-year degrees, the growing use of automation, and distortions caused by the labor demands of the energy sector. Yet some argue the current situation is less of a “skills” gap than a “wage” gap. Manufacturing wages have stagnated as the value of goods produced per worker has soared. This lackluster performance can make it even harder to attract young workers to manufacturing careers, particularly in a culture that often perceives the industry as a less–than-desirable option for its children.
Even if we could agree on its existence, the question of how best to fill it remains. Focusing on education is at the heart of many initiatives. Yet even if education is the answer, the challenges of timing the flow of workers with the needs of industry remains. Trying to predict which skills will be in demand can result in well-meaning training programs that produce a number of workers in a particular industry only to find that the economy has moved on and left these newly minted skills in the dust.
So, reality or myth? Maybe, like many of life’s questions, the answer is a little of both.
NOTE: The Geography of Jobs slide is a data visualization- go to http://tipstrategies.com/geography-of-jobs/ to see the animation.
Challenges for Educators in 21st Centaury Skill Education AJAL A J
Digital Literacy
Critical thinking and problem Solving
Effective oral and written communication
Collaboration across networks and leading by influence
Accessing and analyzing information's
Ability to survive
Curiosity and imagination
Entrepreneurialism
India has manpower of 1.2 billion and it is ironic that still we suffer from dearth of talent? Only 10% of MBA graduates of the country are employable
17& of Engineering graduates are employable. The enormity of the challenge that India will face in year 2026 can be imagined when 64.8% of India’s population would be in the working age of 15-64 years.
Impact of rising demographics on employment
By 2020 out of 1.3 billion people in India we will have about 0.8 billion in the working age and that is surely something the world can look forward to.
Quality of workforce is more important than quantity. In fact having a lower head count of skilled manpower is much better than a manpower whose larger portion is unemployable.
India will heading for a skill gap of 75-80% across Industry sectors. There will be people but with skills that corporate do not require, and jobs for which the right fit is not available. The economic impact of this vicious cycle is something like powerhouse of educated yet frustrated youth who are directionless with no jobs in hand is unimaginable.
Matching the skill levels of the supply side and the demand side of Talent Supply Chain
Social network based astrology consultation ( through skype/ google hangout / Facebook/ whatsapp) for busy people who do not get time to meet an astrologer
connectivity to a few major cities with 5 to 10 lakhs or above population and high internet penetration
The medium we use will be English.
astrology is one of the fastest growing industries in India with cash flows of more than Rs.40000 crore
Emertxe Information Technologies (http://www.emertxe.com) is a pioneer IT finishing school based out of Bangalore India. We offer best-in-class trainings (instructor lead, workshops, online) for making individuals business ready. Our portfolio consist of Embedded systems, Cloud computing, Mobile Application, Software Engineering. These training programs are targeted for students, corporate and universities with heavy stress on applied & practical learning. In case of any queries please free to get in touch with us at training@emertxe.com
Market Research Report: K12 Education Market In India 2010 Netscribes, Inc.
For the complete report, get in touch with us at: info@netscribes.com
The kindergarten to grade 12 (K12) market in India accounts for a substantial share of the total education market. This segment is estimated to be worth INR 20 bn and is expected to be growing at 14% per annum. This space has seen large scale public and private participation. The government has undertaken various initiatives towards developing the market. The large prospective student population is fuelling growth in this sector.
The report begins with an introduction to the education system in India including the various segments and their regulatory status in the country. The overview section indicates the market size and growth, the distribution of schools across private and public sector, enrollment levels, segmentation of schools and the market share of each segment in the K12 market. The following section includes information regarding the entry route and the regulations governing the establishment of a K12 institution. It covers the various costs entailed during development and the revenue models and estimated profit margins in the market. The market size, growth and return on margins for players providing multimedia content and Information & Communication Technology (ICT) services to the K12 market. The operational model has also been discussed.
The fundamental drivers in India has been discussed including a growing middle class with the ability to afford a private education, demographic advantages, consumers preferring private to public schools, growing opportunity for ICT services in K12, low gross enrolment ratio (GER) and high dropout rates and low penetration of multimedia content in schools. The key initiatives of the government identified include the Right of Children to Free and Compulsory Education Bill, increase in public private partnerships (PPP), private schools adopting hybrid teaching methods, Sarva Abhiyan (SSA Shiksha), Mid-day Meal Scheme, major expenditure on elementary and secondary education and other initiatives.
The competition section highlights the major private players in the K12, ICT and multimedia market including their business focus and expansion plans.
The industry is growing very fast. They demand highly accomplished graduates with accomplishment. The engineering institutes have to modernize the workshops, laboratories and computer centers. The need to be developed through industry specific skills in planning, designing, developing prototypes testing, and refining. They should be innovators.
It was over 30 years ago that NIIT committed itself to developing manpower for India 's slowly awakening IT sector. In doing so, it not only pioneered a brand new industry— the IT training segment—it also fueled the fire of entrepreneurship in the country. Within a few years of rapidly expanding its presence in the country, NIIT launched its most impressive innovation yet—a path-breaking franchisee-based business model (Earned it the epithet of "the McDonalds of the IT training world" by the Far Eastern Economic Review.
NIIT is poised to enter hitherto unexplored markets where there is a demand for quality computer education. The company is on the lookout for partners that can share its vision and goals and deliver on its promise of "bringing people and computers together.”
Individuals or Companies with fire in their bellies that want to make a difference by transforming lives are invited to join the NIIT umbrella.
Global interventional cardiology market 2017-2022 sample reportNetscribes, Inc.
Interventional cardiology is the catheter-based treatment of cardiovascular diseases. Certified cardiologists who perform these procedures are known as intervention cardiologists.
https://www.researchonglobalmarkets.com/global-interventional-cardiology-market-2014-2022.html
For the full report please write to info@netscribes.com
The global Telehealth market is estimated to be valued at USD 25.30 billion in 2022, growing at a CAGR of 14% during 2014-2022.
https://www.researchonglobalmarkets.com/global-telehealth-market-2014-2022.html
For the full report please write to info@netscribes.com
Global Telematics Market 2017 - 2022 - Sample PagesNetscribes, Inc.
The global Telematics market is expected to grow at a CAGR of 28.5% (2017-2022) leading to global revenue of USD 233.24 billion by 2022.
https://www.researchonglobalmarkets.com/global-telematics-market-2014-2022.html
For the full report please write to info@netscribes.com
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
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how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
2. Executive Summary
Private sector
Estimated worth USD 1.6 bn in 2008
Market
Growth of 25% p.a. to reach USD 4 bn by 2012
English language training is the largest segment followed by Financial Services Retail and IT
English language training is the largest segment followed by Financial Services, Retail and IT
Government encouraging private sector participation although latter are not regulated
Drivers: Demand for skilled labour in service and IT/ITeS industries; inefficient public education
Drivers &
system; competitive business environment
system; competitive business environment
Challenges Challenges: Poor perception and lack of support from financial institutions
P t
Partnerships between corporates and vocational training institutes
hi b t t d ti l t i i i tit t
Trends Public private partnerships (PPP) for government‐owned Industrial Training Institutes (ITI)
Rising demand for online training modules and correspondence courses in language training
PE/VC firms bullish on Indian education sector; investing in vocational institutes as well
A highly competitive market with players focusing on specific areas and expanding across India
Major players:
Competition English Financial Services Retail Information Technology Aviation/Hospitality
VETA ICA IIRT NIIT Frankfinn
English Center IFBI K10 Aptech Air Hostess Academy
VOCATIONAL TRAINING – INDIA.PPT 2
4. Indian education system comprises of formal and informal
network of educational institutes
Indian Education System
Formal Education System Informal Education System
Professional Coaching Vocational
Schools (K12) Pre‐ Schools
Colleges* Classes Training
Multimedia
Public Private Public Private in schools Books
and colleges
• Under the purview of the Ministry of Human Resource
Development • Institutes under the Government: Regulatory control
• No central governing body for K12; Ruled by state boards/
No central governing body for K12; Ruled by state boards/ remains solely with the Ministry of Labor and Employment
remains solely with the Ministry of Labor and Employment
ICSE/ CBSE/ International Boards • Institutes under the private sector: No regulations in terms
• Higher education comprises graduate/ diploma/ of establishment, standards maintained and course fee
professional courses regulated by University Grants charged
Commision (UGC) and All India Council of Technical
Education (AICTE)
( )
Note: * Graduate and Post‐graduate courses
VOCATIONAL TRAINING – INDIA.PPT 4
5. The government has played an important role in developing this
market by providing financial and infrastructural support
Directorate General of
Employment and Training
Governing Body
under the Ministry of
Labor and Employment
Public sector undertaking: Private sector undertaking:
Institute Industrial Training Institutes (ITIs) – 1913 Industrial Training Centers (ITCs) – 3552
such institutes such institutes
Two year courses:
• Dairying, farm machinery and equipment Certificate level courses on crafts training ‐
• Accounting and auditing Engineering:
• Electrical technology, air conditioning and • Manufacturing Sector – 22
g
refrigeration • Service Sector – 27
Courses Non‐Engineering Trades:
N E i i T d
• X‐Ray technician, health care and beauty
• Manufacturing – 8
• Preservation of fruits and vegetables, • Service Sector ‐ 41
food services and management
Students in 11th and 12th standard in
Students in 11 and 12 standard in
Students leaving school after completing
Applicability schools affiliated to Central Board of
anywhere from grades 8‐12
Secondary Education
National Council for Vocational Training (NCVT) and Central Apprenticeship Council (CAC) are advisory bodies and create policies for
National Council for Vocational Training (NCVT) and Central Apprenticeship Council (CAC) are advisory bodies and create policies for
development and also maintain training standards at the institutes
VOCATIONAL TRAINING – INDIA.PPT 5
6. The private vocational training market is in its nascent stage and
is highly fragmented with strong growth prospects
Overview Market Size and Growth
• Vocational training market is estimated to be worth
USD mn
USD 1.6bn in 2008 4,000
4,000
4 000 +25%
• Expected to grow at 25% CAGR to reach USD 4bn by 3,180
2012 3,000 2,540
• A developing market with strong opportunity for new 2,030
2,000 1,624
players
1,000
•P i t l
Private players operate free of any regulations i.e. no
t f f l ti i
governing/ regulatory bodies 0
2008 2009e 2010e 2011e 2012e
Private Education Industry (USD 40 bn) Market Segmentation
2% K-12
3%
Professional colleges 3%
4% 2% English Training
4% 2% Tutoring
9%
28% Financial Services
Test preparation
12% 14% Retail
49% Vocational training
Stationery IT
Child skill Airlines
17%
development 20% Others
Pre-school 26%
E-learning etc
Note: Corporate training programmes not included in this report
VOCATIONAL TRAINING – INDIA.PPT 6
8. Drivers and challenges
Drivers
Demand for skilled workforce Challenges
increasing with the growth in services
sector Individuals perception
Strong demand from the IT boom
Lack of financial institutions support
Inefficiency in public education
system
Increasingly competitive business
i l ii b i
environment
VOCATIONAL TRAINING – INDIA.PPT 8
9. Growth in services sector increasing the demand for skilled
workforce
Demand for skilled labor increasing with the growth in various sectors Impact
• High growth in services sector will generate demand for a skilled workforce and is expected to
boost demand for enhanced technical/ soft skill training programmes
%
Growth in
30 Services Sector
20 Growth in GDP
10
0
2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08
• Growing employment levels and the need for high efficiency will demand adequate training
Employment
Sector CAGR (%)
2008 2011e
Airlines 60000 269528 65
Hotels 70000 192090 40
Retail 880000 3953070 65
Financial Services ‐ Direct 220000 541283 35
Financial Services ‐ Agents 600000 1476225 35
VOCATIONAL TRAINING – INDIA.PPT 9
10. Huge requirement for technically skilled individuals in the IT
sector will benefit players in the market
Demand due to the IT boom Impact
• Constantly growing demand for a large workforce is expected to enhance the IT training market
which is valued at USD 224 mn
Workforce Demanded by the IT sector
mn
2,500 2.2
+22% 2.0
2,000 1.6
1,500
1 500 1.3
13
1.1
1,000 0.8
500
0
2004 2005 2006 2007 2008 2009e
• The number of non‐IT graduates employed in the IT sector has been growing faster than the
number of IT graduates.
• This creates an opportunity for private players offering computer courses including hardware
g, p g
and software training, computer networking and multimedia
• Demand for English language courses also increasing with the growth in IT Enabled Services
(ITES) and Business Process Outsourcing (BPO) sector
ITES and BPO sector constitute 67% of the total IT industry and witnessed growth of 33 % from 2004‐08
VOCATIONAL TRAINING – INDIA.PPT 10
11. Inefficient public education system and competition in the job
market will drive vocational training programmes
Inefficiency in public education system Impact
• Low enrollments and high dropout rates across various levels of the education system has led to
inefficiency in the supply of workforce
Grade Dropout Rate %)
Grade 9‐12 62
Grade 6‐8 50
Grade 1‐5 29
• 80% of the graduates in general streams (BSc/ BA) are unemployable as they lack specific skills
• Inefficient education system is creating awareness among students regarding importance of
channelized skill building
Increasingly competitive business environment Impact
• The dynamic nature of the business environment has made it imperative for individuals to
develop their skill sets in order to compete effectively
• Prospective and existing employees continuously work on enhancing their skill sets as
productivity is demanded from the time of induction
• Corporates across industries are interested in upgrading the skill sets of their employees at all
levels in order to compete with their global counterparts
VOCATIONAL TRAINING – INDIA.PPT 11
12. Existing perception among individuals regarding vocational
training..
Individuals perception Impact
• The levels of vocational skills imparted to the workforce in India compares poorly with other
countries
Share of labour force receiving vocational training
%
100 96
85 86 88
80
60
40 25
20 8
0
India Korea Japan Germany Canada Mexico
• Individuals prefer to invest in traditional forms of learning in order to attain employment rather
than using vocational training as a route
g g
• Individuals are not keen on vocational training courses as a diploma course in India is not
comparable to a degree course at the time of employment
VOCATIONAL TRAINING – INDIA.PPT 12
13. .. and lack of aid from financial institutions acting as a barrier to
growth
Lack of financial institutions support Impact
• Financial institutions like banks provide financial support to the students for taking admissions
in the formal education system like colleges and universities
• Financial support is not available to students interested in entering vocational training
programmes for which institutes charge a huge fee
VOCATIONAL TRAINING – INDIA.PPT 13
15. Key Trends
Partnerships between corporates
PE/VC firms showing interest in and institutes
education sector
Trends
Demand for online and Government encouraging public
correspondence courses private partnerships
VOCATIONAL TRAINING – INDIA.PPT 15
16. Vocational training market witnessing tie‐ups between
corporates and institutes for imparting specialized training
Partnerships between corporates and training institutes
• Corporate houses have begun to form associations with private players in this segment to
impart training to prospective employees Initiatives taken by
This allows corporates to impart customized high quality training corporates in order
• Some such associations to scale profitability
Finance
– An arrangement between ICICI and Manipal University to form ICICIManipal Academy (IMA) which holds
a one year course, sponsored by ICICI and guarantees employment after the completion of the course.
a one year course sponsored by ICICI and guarantees employment after the completion of the course
The students completing the course will be recruited as Assistant Manager‐Band 1 grade in the Bank
– Institute of Finance Banking & Insurance (IFBI), formed by NIIT with equity participation from ICICI Bank,
has partnerships with ICICI Securities, HDFC Bank, Kotak Mahindra Bank, Yes Bank, ICICI Lombard and
Infosys
Aviation
– Frankfinn Institute of Airhostesses Training entered into a two year contract with Air Deccan in April,07
to be the sole institution from which the cabin crew for Air Deccan will be selected
VOCATIONAL TRAINING – INDIA.PPT 16
17. Government focusing on private partnerships to develop vocational
institutes; Demand for online and distance learning increasing
Government encouraging public private partnerships (PPP)
• The Centre approved PPP scheme in order to upgrade 1396 ITIs, which are institutes
development by the government and impart vocational training in various fields Private sector
roped in for better
roped in for better
• Educomp, one of the leading players in the vocational training industry, has been instated execution of
with the responsibility of running 18 ITIs and 12 skill development centers in Gujarat vocational courses
• Under the 11th Plan
INR 310 bn has been allocated for the National Skill Development Program
It also incl des the establishment of 250000 ocational schools r n thro gh PPP
It also includes the establishment of 250000 vocational schools run through PPP
Increasing demand for online training and distance learning
• Demand for online courses has grown in India with the increase in broadband penetration
Veta Best is an online program launched by VETA for training in the English language for students unable to Institutes are in a
access training centers position to tap into
English Center is another such institution that offers online training in English language a wider audience
• Institutes are capitalizing on the requirement of distant learning courses who are often unable
Institutes are capitalizing on the requirement of distant learning courses, who are often unable
to attend lectures due to other commitments (education/employment), by providing self‐study
materials along with online assessment and support
Russels launched their distance learning course for training in English
VOCATIONAL TRAINING – INDIA.PPT 17
18. Vocational training market attracting private equity investors
Increased focus of PE/VC firms
• Private equity players are bullish on education sector in India Private equity firms
• Within the education sector, private equity firms are focusing on unregulated informal market are tapping the
like vocational training institutes, coaching institutes etc unregulated
vocational institute
market
Date Investor Target % Stake Amount USD
Jan 2009 Intel Capital and Helion Ventures Global Talent Track n.a. n.a.
Apr 2008 Zephyr Peacock Management India WLC n.a. n.a.
Oct 2007 SAIF Partners Veta n.a 10 mn
May 2007 SAIF Partners ICA Infotech n.a. n.a.
VOCATIONAL TRAINING – INDIA.PPT 18
20. Competitive Landscape (1/4)
Revenue in INR
Institutes Overview Business Focus
mn (FY08)
English Language
• Focuses on English language training
• Number of centers to increase to 500 by 2010
VETA Started in 1981, 175 centers ~800
• Growing due to a mi x of owned and franchisee outlets
• They have trained 2.1 mn students
British School • Main presence is in Delhi with franchises in Punjab and near Delhi
Started in 1975, 20 centers NA
of Language
of Language • Imparted training to 1 5 mn students
Imparted training to 1.5 mn students
English • Training directed towards application in corporate and retail
Started in 1995, 30 centers ~100
Center spheres
Started in 1986, currently owns
Russels 70 • Educated over 1mn students
25 and has franchised 5 centers
5 and has franchised 5 centers
• Training directed towards application in corporate and retail
Komark Started in 1996 NA
spheres
Financial
Founded in 1999 00, currently
Founded in 1999‐00 currently
• They have been focusing on accounts related and share market
ICA has 350 centers of with 30 are 1200
related courses
owned
• Entered into a partnership with HDFC bank for training their
IFBI (NIIT Founded in 2006, has presence students
1200
venture) ) in 22 locations
• Th h
They have provided education to ~ 5000 students
id d d i 5000 d
Note: The list is not exhaustive
VOCATIONAL TRAINING – INDIA.PPT 20
21. Competitive Landscape (2/4)
Revenue in INR
Institutes Overview Business Focus
mn (FY08)
Retail
Indian
Institute of • Collaborations with other retail institutes towards developing
Started in 2007 NA
Retail course content
Training
Started in 2003, has 32 centers
K 10 NA • Training in retail, marketing and English
across the country
IT
• Focused on IT training, accounts for 90% of their revenues
Started in 1981, currently has • Imperia for management programmes
NIIT 10,068
473 centers • English language through the acquisition of Evolv
• Corporate training, 90% of revenue is accounted for by the US
• 72% of revenue was from training in the retail segment
Started in 1987, currently owns • 28% of revenue from training in the corporate segment
Aptech 10 centers, in addition there are
• Entered the aviation and hospitality business via Avalon
Computer
Computer 350 franchisee and 110 other
350 franchisee and 110 other 992
Education centers through which students • Planning to diversify into the corporate training market
can enroll • Increased the number of trainers from 35 to 100 and its acquisition
of Synergetics has added to their existing content library
Note: The list is not exhaustive
VOCATIONAL TRAINING – INDIA.PPT 21
22. Competitive Landscape (3/4)
Revenue in INR
Institutes Overview Business Focus
mn (FY08)
IT
Started in 1990, currently has • Focused on hardware and networking training programmes
Jet King
Jet King 390
120 centers (104 franchisees) • Plans on expanding their training centers to China & Nigeria
Started in 1976, currently runs
CMS 230 • Focuses on hardware, network and IT training
60 centers
Aviation and Hospitality
• Their centers accommodate ~17000 students
• They entered in to a strategic alliance with Edexcel, towards
Started in 1993, currently has
Frankfinn 750 introducing internationally acclaimed and highly‐rated BTEC Higher
120 centers
National Certificate in Aviation, Hospitality and Travel Management
recognized in 110 countries
• Current student strength stands at 250
Kingfisher
• Expected to have 25 centers in India by 2010
Training Started in 2007 NA
• Provide educational loans to eligible students through tie‐ups with
Academy
HDFC
• Offer BBA degree in aviation tourism and hospitality management
Offer BBA degree in aviation, tourism and hospitality management
Flying Cats Started in 2005 , 31 centers NA • Also offer one year diploma in airhostess training and ground
handling
Note: The list is not exhaustive
VOCATIONAL TRAINING – INDIA.PPT 22
23. Competitive Landscape (4/4)
Revenue in INR
Institutes Overview Business Focus
mn (FY08)
Aviation/Hospitality
Air Hostess Started in 1997, network of 40 • Their centers accommodate between 9000‐11000 students
NA
Academy centers
Teacher Training
• Educomp runs its training programme under the QUEST (Quality
Education for Students & Teachers) brand name
Started in 1994, has 32 centers
,
Educomp
Ed 818 • Th h
They have trained 965000 teachers as of FY08
t i d 965000 t h f FY08
across the country
• Formed partnerships with Microsoft and Wipro for training
Government and rural school teachers in specific modules
Note: The list is not exhaustive
VOCATIONAL TRAINING – INDIA.PPT 23
25. Key Developments
Date Development
Nov – 2008 NIIT launched e‐GURU Web & Multimedia curriculum for school children, based on world‐class Adobe Creative Suite of
Products. This was introduced in order to provide a comprehensive web and multimedia education using professional
software s.
software's.
Oct ‐ 2008 Global Talent Track Ltd is planning a new venture in vocational education with Pune University in collaboration with Cisco.
The target is to provide high quality learning opportunities to over 500000 annually by 2012. The institute plans on
expanding this model to three other States by 2009.
July – 2008 The Chief Minister of Assam urged the tea industry to provide vocational training to their employees. This initiative had
been forwarded so that the labour force is not dependent on tea gardens for a sustainable source of income and endure
been forwarded so that the labour force is not dependent on tea gardens for a sustainable source of income and endure
multiple revenue generating streams.
Apr – 2008 The Gujarat government is looking at the private sector to impart vocational education. The State government plans on
providing basic infrastructure, such as land and building, at polytechnics, engineering colleges and industrial training
institutes, and fund up to 50% or INR 10 mn towards the cost of training equipment and machinery. The sectors being
covered are automotive, chemicals, engineering and textiles. They also plan on partnering with private players for
g g y p p g p p y
technical training in 22 ITIs.
April – 2008 A joint effort between Aptech and Computer Society of India was undertaken towards educating 250000 in the IT sector
in Chennai through Computer‐Based Trainings (CBTs), online trainings as well as instructor led training.
March – 2008 A Centrally Sponsored Scheme (CSS) is under implementation towards the development of new Industrial Training
Institutes (ITIs) in the North Eastern states and Sikkim. The main objective of the scheme is to meet both qualitative and
Institutes (ITIs) in the North‐Eastern states and Sikkim. The main objective of the scheme is to meet both qualitative and
quantitative skilled and semi‐skilled manpower requirement for industry, service sector and self‐employment. The plan is
to establish 22 new ITIs and strengthen / modernize35 existing ITIs in the North‐Eastern region.
VOCATIONAL TRAINING – INDIA.PPT 25
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VOCATIONAL TRAINING – INDIA.PPT 26