Recognising the potential of Micro, Small and Medium Enterprises (MSMEs) as significant employment generators, Finance Minister Arun Jaitley recently called the MSME sector the ‘backbone of the economy’. In the sixth interim budget 2018-19 in February, the Government is expected to announce some incentives for MSMEs that in turn would boost job creation further. With both foreign and domestic investors in the ‘Make in India’ programme, the MSME sector can create a new business ecosystem, contributing to employment generation and overall GDP growth.
In order to have a global edge, the present and future workforce need to adopt an international outlook and acquire new skills to drive innovation. Therefore, imparting the right skill set is the need of the hour to create a future-ready workforce that would take on new responsibilities with confidence. Moreover, with the current government reiterating its commitment to boosting job creation with a large focus on MSMEs, increased investment in the e-learning sector will be the right way forward.
Thanks to high internet penetration in the last two years, not just in the urban landscape but also in rural areas, digital technologies are gaining popularity across multiple sectors. Therefore, it makes it even more crucial for the education sector to reap the benefits of this ongoing digital transformation. Online learning is fast gaining the status of being a ‘global phenomenon’. As online learning garners wider global outreach, the potential to leverage it to expand access to education — particularly in a developing country like ours — continues to grow. Investment in e-learning currently is key to strengthening the learning ecosystem in India.
With affordable data plans, cheaper mobile devices and focus on new technologies like 5G, this trend is expected to rise significantly. With the overwhelming use of internet nationwide, it is clear that digital learning can deliver education solutions in a friendly, cost-effective and convenient manner, including learning content in the vernacular. Studies show that re-skilling and online certification are currently drawing the maximum traction within the online education ambit.
The author is the Managing Director at Pearson India.
