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India Needs to Impart High Skill Trainings to Its labour reserve

The world today has enhanced productivity requirements. Due to this, the demand for highly skilled labour is growing. China and India are set to drive this demand. Globally, the share of low-skill jobs is likely to decline from 74% of employment in 2010 to 62% by 2020. On the other hand, the shortage of highly skilled workers with a tertiary level of education is expected to reach 18 million by 2020, globally. But due to its demographic dividend, India will have a labour surplus of 47 million by 2020. However, this surplus may only be of low-skilled labour. And while the demand for highly skilled labour is increasing, the supply isn’t quite keeping up. The challenge, as well as opportunity, that India faces is how to train such a large reserve of labour and convert low skills to high skills. One solution that immediately comes to mind is providing higher education for all. But at present only 24% of those meant to be participating in higher education, are actually enrolled. Plus, traditional college or university pedagogy has been increasingly criticized for being outdated and irrelevant to the jobs market. If you attended school or college in India, you will have first-hand experience of the ills that plague the system.

Some of the reasons for this are:

Absence of a customized or personalized approach to education (necessary as different students have different needs and learning capabilities).
Restricted resources due to not-for-profit nature of educational institutes and over-regulation.
Lack of technology infrastructure.
Poor teaching quality.
Lack of skills-based learning.
Low focus on research and development.
Minimal partnerships with industry/foreign academia.
Outdated curricula not reflecting requirements of a dynamic market environment.

Only about 25% of Indian graduates are considered employable by the organized sector. Further, 48% of Indian employers said they were having difficulty in filling jobs, in 2012. Despite employers expressing difficulty in finding employable candidates, in 2009-10 the unemployment rates in India were higher for those who were more educated (graduates had more difficulty finding jobs than secondary or primary level graduates). “ Skillintensive industries are expected to contribute more than 90% of India’s GDP by 2030. The opportunity is staring at us in the face. Featuring fresh takes and realtime analysis from HuffPost’s signature lineup of contributors 1 July 2016 iOS app Android app More MORE: So Indian education, in its current form, hasn’t proved to be enough training for the incoming workforce. The numbers also prove that just completing higher education in any field is not all it takes anymore. This pinch is being increasingly felt as the world of jobs is turning upside down; which is why we need skill training. Skill-intensive industries are expected to contribute more than 90% of India’s GDP by 2030. The opportunity is staring at us in the face. It’s not just about the potential but also the responsibility we are tasked with — restoring balance to the global supply of labour. The country needs to invest in skill development and training for a large chunk of its population. Exploiting sheer numbers is therefore one major reason to skill our workers. Secondly, the demand for advanced skill-sets in emerging areas is growing. Knowledge-intensive roles such as finance, business, etc, and those related to information technology and entrepreneurship are gaining momentum. The reality that these skills must be acquired will take root for more and more individuals, including drop outs from the mainstream education system and those who have completed such education. Currently, the actual supply of these workers falls drastically short of matching growing demand. Hence, the gaps in domain knowledge are another reason to scale up the skilling.

In China about 47% of the workforce has received some kind of skill training, 52% in USA, 68% in UK, 75% in Germany, 80% in Japan and 96% in South Korea. Comparatively, only about 10% of the Indian workforce received such training in 2008. India is seventh in the category of countries facing maximum difficulty in filling jobs, i.e., 58% difficulty, where the global average is 38%. These figures reflect that just belonging to the young Indian demographic is not enough. You are likely to be at a disadvantage, in terms of skill training and thereby employability, when compared to someone your age in China, USA, South Korea etc. To address these imbalances, India needs unprecedented increase in both education and job creation. At this point, there is no guaranteed advantage for India in the contest for high-skill talent. It will be dependent on skilling. Considering the state of higher education and the skill upgrade required to be carried out in the future, the process will not just be about learning for professionals, but rather unlearning and relearning.

Source: Huffingtonpost India

Afraid to Step in the Business World?

Ever since Narendra Modi took oath as Prime Minister of India, he has endorsed the idea of Startup India and Stand Up India. The Skill India initiative by him is one of the best initiatives for the welfare of the people. The initiative aims to provide training to over 40 crore people in different streams by the year 2022. Narendra Modi believes in the principle of ‘Antyodya’ serving the last person in the queue.

The way the world is witnessing progress and development, technology is surely opening up new vistas and avenues for people. The young bloods today wants to set new benchmark of excellence and are willing to take risks.

The founder and CEO of OYO rooms is a young 23-year old boy. Isn’t it amazing when people like Ritesh believe in their ideas and turn them into a reality.

There is a fire in everyone and there is a story in every mind. All you need to do is ignite the fire and do every possible thing to make your story an inspiration for others.

In this corporate ridden world, it is not easy to leave an indelible imprint in the business world. A person needs to strive hard to standout from others and save his business from loosing in the crowd.

While starting a business, a budding entrepreneur faces many dilemmas. The first and foremost task is how to execute the idea, know the market, plan the budget, hire staff and brand your product.

Any wrong decision can ruin your startup. But there is always a way to know how to do things right at first go.

Startup India Consultants is one such platform which aims to help young people their capabilities at startup attempts. We aim to provide proper guidance to people in this dynamic business environment. We will give you a chance to seek advice from India’s top entrepreneurs and step in their shoes to give you a comprehensive understanding of various important things.

Its time to turn your vision into a reality with Startup India Consultants.

How important is The Location for Your StartUp?

There are many important things you need to consider before kick starting your startup such as funding, branding your product, hiring staff and the list goes on. But one the biggest dilemma faced by any entrepreneur is, deciding the location of the business. On the startup extremes, location is one of the most critical success factors. With ever growing market of Indian Startups, budding entrepreneurs need to choose the right location and give his or her startup that X factor.

Before you start looking for business space, you need to have a clear vision of what you would like to have, where you would like to have and how much you are willing to pay. While many things can be reversed if they go wrong, what cannot be reversed is the location of your startup. So it is one of the most enthralling yet tedious tasks for any entrepreneur. The geographical location of your business should take care the given below factors.

Decide the type of your Business operations.
If your business is a formal and permanent one, you should go for a traditional store in a posh location and if it is a casual one and not permanent, you can look out for a booth which can be moved anywhere.

Demographics
Business involves sale and exchange of a product, and it’s the customer who is the king of the market. It is important that your business is in proximity with the customers. Demographics is the most influential factor in a retail business. You decide the location of your business keeping in mind your target market.
Foot traffic is of extreme importance. Never choose a place where people might bypass you. A dead spot might kill your business.

Vehicle Parking
Shoppers usually prefer places with easy vehicle parking and accessibility. If your business is on some congested busy street, it might not attract supplier, employees or customers. Any business is lousy if it not accessible. There might be difficulty in importing and exporting goods, adding further to your menace.

Competition
Having your competitor nearby, can be both an advantage and disadvantage. While if you choose the location where there is already a competitor, it might bring you existing customers of your rival on the other hand it can make your marketing job tougher too. Keeping your enemies close is good but how close is what you need to decide on.

Infrastructure
A good and vivacious infrastructure attracts shoppers quite easily. The infrastructure of startup should fulfill the requirement of all your operations and should have power backup, 24/7 water supply, telecommunication services and air conditioning.
An objective evaluation of all the factors will spare you from the cost of an execrable location. To make sure your business doesn’t lack anything, seek advice from Startup India Consultants. They will give an edge to your startup from idea till execution.

Great News for Start-Ups: Government Ends Angel Tax

Angel Investors have been a boon to our start-up industry. These investors have time and again sought out new talents and business ideas and guided them towards success. Our start-up industries’ root more or less stands on Angel investors. However, these investors had to suffer the tax that the government levied on them under Section 56 of the Income Tax Act. This stopped many investors to keep a clear mind on investing start-ups. The good news for the emerging new business ideas from the talent of this country is that this tax has now been scrapped.

The act was made to stop the inflow of black money in the Indian market and to regularize it. But it was backfiring as the investing sentiment has already gone dull and only those start-ups got funding which were coming from big credentials. Now, that the investment is tax-free, more and more investors could vouch for start-ups, giving them hope and faith to carry forward their idea.

Earlier, the Angel investors had to pay up to 30% in tax. This was already an unnecessary thing imposed by the government. According to Sanjay Mehta, an Angel investor, it was somewhat unfair as those venture capital funds who come under SEBI (Securities and Exchange Bureau of India) didn’t have any tax levied on them. Thus, those investors who were not registered under SEBI had to give heavy taxes to the government. The rule says that if an investor’s funding exceeds the fair market value of a start-up, then he is entitled to pay tax to the government. That was a hindrance to the opportunities start-ups could have.

This is a further development under our Prime Minister, Mr. Narender Modi’s campaign of Start-Up India. There are various innovations in this campaign to help the start-ups of India to create new business, jobs and to take the economy to new heights. StartUp India Consultants follows closely all the novelties of this movement and provide services to people who have in themselves to create an enterprise.

How Technology Has Shaped the New Start-Up Generation

The era of start-ups is not new. Every other brand that is famous and is in market today was once a start-up. Today’s start-up generation has access to numerous resources and libraries which are required to run a successful business. Earlier, there was trial and error. The role of technology in the success of a start-up is understated. Technology plays an important role when it comes to human-machine interaction.

Providing solutions to a certain problem is the base of why someone starts working towards a goal. Therefore to reach maximum people in the minimum amount of time, technological help is required. For example, the idea of online shopping. No one knew 10 years ago, that a system will be developed where clothes can be ordered on finger tips. The online marketplace totally took over the traditional way of purchasing. People can now access a website through Internet and can pay money online with one click.

Another example would be GPS systems in mobile phones, cars and computers. It not only helps people to find an address but also to locate certain shops when in a new town. Companies like FoodPanda, TripAdvisor take the maximum benefit of technology to provide services to the customers. One can search nearby hospitals, food places, parks; facilities like check-in to a location and letting the technology do its work. Today’s emerging entrepreneurs should consider technology as one of their most important assets to come on top in this ultracompetitive world.

Start-ups focus on using the available resources in the best possible way in order to ease, the way the company serves the customer. The Playstore is a market where one can showcase their services and do business. It is as simple as logging into an account. Technology has come a long way to providing business the hyperactive options in order to make it large. For example, start-ups provide open-ID in order to avoid the efforts to maintain the records. Instead, outsourcing them is the ideal option. Therefore, one can easily say that someone has an idea and if it is implemented in the best way, technology supports it.

Start-Up India Consultancy is looking forward to providing help in every way possible for the people who have exciting new business ideas. Our firm consists of IT engineers who know the in and out of technology and how one can use it to their best of profits.

Simple yet Affective Ways to Grow Your New Business

The world is brimming up with innovative ideas to make things and provide service in the simplest of ways. There is a quote, “Necessity is the mother of all invention”, however, these days necessity has taken a form of comfort level. There are thousands of new business ideas today that not only offer new kind of services but also are revolutionizing the way old ones. One of the major factors why start-ups are necessary is because they are kind of a DIY (Do It Yourself) systems and the world needs it now more than anytime. Therefore, for a person who has an amazing business idea, she or he should know few basic tricks to grow their new business. These tricks are tested time and again and hence are of dire importance.

Always provide something for free – There is no doubt that people love things that they get for free. They love the companies who offer something free for the regular and new customers. Knowing that you are in the initial phase of your business idea, you can start to give your product for free to every new customer. This strategy is really well used by the mobile recharge start-ups which offer the first user a free recharge. But, they only provide a maximum of Rs.100 or 200 per new user and that’s it. You have to think a new way to overpower that strategy. For example, if you are planning to own an online clothing shop where you can showcase your designing skills, you should come up with an offer that gives free t-shirt to people. Not only that, you can even give your t-shirts to retail shops for free and tell them to ask if they can sell it or at least ask them the reviews of the customers.

Make People Look Special – Giving a feel of exclusivity to people will take your business to new heights. Find a simple way which can make your customer feel special with the product. Making them a part and giving them a homely feeling is one of the oldest tricks used by many of the offline businessmen. For example, Freecultr, an Indian clothing start-up is doing something like this. They are offering people to showcase their designs and upload them on their website and if people like those designs, then the company would use that design to make the t-shirt and will pay to the designer. Thus, if someone even have an idea of design, they would be able to become a part of something big. The emergence of such ideas is helping both the businessmen as well as the customers.

Use other start-ups – There are plenty of opportunities for you to use others’ business in good affect. Many new start-ups require various services for themselves. If you think you are any value to them, then it will be your advantage as you can then have an access to their customer base. For new entrepreneurs, this can work as an experience for them as interaction with the customers can be a learning process. Capitalizing on opportunities is necessary if one wants to create an enterprise. For example, these days every e-commerce start-up needs logistics service and if someone owns a transport unit he can make the most of it.