Kunal Vasudeva - Aligning India's Education with Economic Realities | Kunal Vasudeva | TEDxISH

The Job Market Gap and the Plight of Graduates

• Every year, about 20 million young Indians are ready to join the workforce, but the economy creates only a fraction of jobs, approximately 5 million annually, resulting in a massive gap and a defining moment for the entire generation (23s).
• A story is shared about Ishmi, a computer science graduate from a prestigious engineering institution, who was offered a job below his expectations and qualifications, with limited responsibilities and a 15-month backlog in hiring (1m12s).
• India produces 1.5 million engineering graduates each year, but only 500,000 get absorbed in a good upcycle year, leaving 1 million qualified graduates like Ishmi stuck with limited opportunities (2m7s).
• Another story is shared about Mea, a commerce graduate with additional certifications, who finds herself in an overcrowded job market with intense competition, resulting in low entry-level salaries (2m34s).
• India produces 4 to 5 million commerce graduates each year, but only a handful of jobs are created in the commerce and financial sector, making it difficult for Mea to comprehend the value of her efforts (3m9s).
• The country is stem-obsessed, producing more stem graduates than the entire continent of Europe and the Americas, but the mismatch between the number of graduates and job opportunities is a stark reality (3m51s).
• Many graduates like Ishmi leave the country, while others like Mea have to recalibrate and realign their skills after graduation, as if their 5 years of education didn't matter (4m31s).

The Mismatch Between Education and Economic Needs

• The misalignment between education output and economic needs is a critical challenge that must be addressed, compounded by the gap between policy creation and policy execution in India (4m48s).
• Well-meaning policies are often handed over to academic reformists and administrators to implement, but the focus shifts from outcomes to compliance, preventing the full potential of education reform from being realized (5m29s).
• An example is given of a government grant for computers and language AED tools in a school, which was utilized appropriately, but the focus later shifted from the learning capabilities of the students to compliance (5m58s).

Bridging the Gap: Aligning Education with Economic Goals

• To bridge the gap between education and economic realities, it is essential to align the approach to education with the nation's economic goals, industry forecast, and labor market trends (7m14s).
• India is a heterogeneous country with diverse languages, economic aspirations, and opportunities, making it necessary to acknowledge that multiple Indias exist within its borders, each with its own challenges and opportunities (7m23s).
• To make a real impact, education outcomes and employment strategies need to be tailored to each segment's specific needs, which can be addressed as India 1, 2, 3, and 4 (8m30s).

The Multiple Indias: Diverse Needs and Opportunities

• India 1 and 2 represent the aspirational, high-growth, innovation-driven segments of society, leveraging high-quality education, technology, and global networks to drive impact in areas like manufacturing, global capability centers, global tech entrepreneurship, and corporate leadership (8m48s).
• India 3 and 4 represent the middle segment and the most vulnerable segment, encompassing 700-800 million people, which is the key to India's future growth, but this is where the cracks in the Indian education system, healthcare system, and administrative implementation system become evident (9m55s).

Cracks in the Education System and the Need for Reform

• The current education system has cracks, such as the prioritization of compliance over execution and outcomes, resulting in students progressing to grade 8 without assessing their cognitive or noncognitive abilities, leading to many students dropping out by grade 12 (10m45s).
• Solving the education challenges across all four Indias requires massive investments in infrastructure, teacher training, and systemic reform, but it's a long-term, capital-intensive effort (12m18s).

Elevating Vocational Training and Recognizing Diverse Strengths

• Given the diversity and heterogeneity of India, the approach must be as diverse, recognizing that not everyone follows the same academic trajectory, nor has access to the same resources, but every individual has inherent strengths that can be nurtured and aligned with economic possibilities (12m41s).
• Vocational training must be elevated to the same level as an academic degree, especially for India 3 and 4, where the system is most fragile, and skills acquired in manufacturing, construction, healthcare, and craftsmanship sectors are just as valuable (13m31s).
• Valuable professions in India's economy include Armed Forces doctors, engineers, investment bankers, and those in global systems like Australia and Germany's dual education system, which can be used as examples to integrate vocational and academic training effectively (13m53s).
• By applying a similar system in India, a workforce can be created that is well-educated, capable, skilled, and passionate about their inherent strengths by equalizing the value of vocational and academic achievements (14m23s).

A Model for Measurable Change: Public-Private Partnerships

• This approach allows India's youth to prosper based on their strengths and contribute to a more productive and adaptable workforce (14m46s).
• To drive real, measurable change, a model is required that makes all stakeholders accountable and connects education infrastructure, administration, industry through public-private partnerships (15m4s).
• The 'Make in India' scheme can be expanded to include hiring and training local youth through training and skilling centers embedded within manufacturing units (15m19s).
• By shifting the focus from goods and services output to human development output and outcomes, industries can contribute to economic growth and human development, creating a skilled workforce for the next two generations (15m50s).
• Students who wish to pursue a vocational pathway after grade 12 can be directly absorbed by manufacturing units, which can provide additional incentive schemes to offset capital expenditure and operating costs (16m18s).
• Three to five years of hands-on training within manufacturing units can be equivalent to a degree, which has equal value to an academic degree, boosting the gross enrollment ratio and recognizing skilled individuals within the formal economy (16m45s).

Investing in Teacher Training and Systemic Reform

• The economic success of any nation is directly linked to education and healthcare systems, and India's focus should be on establishing top educator institutions to ensure a strong foundation for the education system (17m29s).
• Establishing elite teacher institutions on par with IITs, IIMs, and IAS can ensure a pipeline of educators who will shape the future of the country and be given the same respect as other professionals (18m42s).
• Industries training their own skilled workforce through the PPP model, alongside teachers driving systemic reform, can create real jobs, lift India's economy forward, and drive growth (19m14s).

Addressing Brain Drain and Leveraging Remittances

• This approach can also address the issue of brain drain, where India's brightest minds leave the country for better opportunities abroad (19m46s).
• In 2023, Indians working abroad remitted $125 billion into the country, with estimates suggesting a 14% year-over-year growth rate. (20m4s)
• This growth rate could result in a total of $1 trillion in remittances over the next 10 years, equivalent to 25% of India's current economy. (20m19s)
• This inbound remittance is considered a form of nation-building, but the challenge lies in creating the right conditions for these individuals to return and invest in India's growth story. (20m31s)

The Importance of Education and the Path to Prosperity

• In Indian mythology, Saraswati, the goddess of wisdom and learning, precedes Lakshmi, the goddess of wealth, highlighting the connection between knowledge and prosperity. (20m55s)
• True education is seen as the source of true wealth, leading to the creation of prosperity, happiness, and good health. (21m9s)
• This transformation is what India needs, and it is the India that must be built. (21m29s)