CII: Need swift action on skilling to reap demographic dividend

India needs to take swift action on education and skilling to reap the benefits of its demographic dividend over the next 30 years, an industry body said, failing which the young population will become a liability to the nation.

The Confederation of Indian Industry said high quality school education, relevant higher education and skill development aligned to industry needs are some of the pre-requisites if India is to become an economic powerhouse, in its report - Harnessing India's Demographic Dividend for Boosting Growth. This not only creates good quality jobs for its youth, but also services the rest of the world, it said. "Education and skill development will be the biggest enablers for reaping India's demographic dividend. If India does not create enough jobs and its workers are not adequately prepared for those jobs, its demographic dividend may turn into a liability," CII said.

The report also highlighted the need for easier funding options for higher education loans without collaterals and innovative ways of repayment.