Skills Gaps and Shortages in the Indian Labour Market Due to Changing Dynamics of Employability

Purpose:This chapter explores the changing global dynamics of employability and the current skill gaps among college students. Employability is defined as the measure of how desirable an individual is in the workforce, that is, their skills and knowledge. This chapter is centred on the students’ existing skills, missing skills, and the skill requirements of different industries. Methodology:For this study, both primary and secondary data have been collected. Case studies have been used to analyse the skill gaps among students and industry requirements. Primary data has been collected from Indian students and case studies from other countries. Findings:After conducting primary surveys and analysing case studies, we were able to conclude that there are serious skill gaps among students – especially in industries related to new emerging technologies. Educational institutes are not keeping pace with technological changes, and, in some cases, are not taking care of students’ interests. This is a serious problem for unemployed youth around the world. Practical Implications:This chapter will help design the curriculum, addressing core issues of skill shortages in the labour market in developing and underdeveloped countries, decreasing the labour shortage and increasing employment, and helping countries’ national income. Significance:This study is important as it addresses the issue of unemployment by providing a clear understanding of the present needs of industries. Educational institutions and the government will be able to design the best curriculum and education policies to provide the youth with all the necessary skills to help them fulfil the needs of industries.