NEW DELHI: Corporate social responsibility (CSR) spending on skilling needs to improve substantially to unlock India’s workforce potential on the global stage, according to a report on Monday.
The report by rating agency Crisil said India needs huge investments in skilling, which will help realise the country’s demographic advantage. It noted that the burden of investment for skilling must be lifted together by both public and private sectors.
India has an unprecedented opportunity as developed economies across the Gulf Cooperation Council, Europe, and Australia face acute skill shortages, especially in critical sectors such as healthcare, information and communication technology, renewable energy, logistics, and construction.