Indian economy may face talent deficit
- Source: Xinhua
- [08:54 August 25 2009]
- Comments
Indian economy may face a huge "talent deficit" in the coming years, as the country is not producing enough people equipped with the skills required for the globalized environment, a global consultancy and research firm said Monday.
"The new talent management model in Indian companies would need a shift in outlook where the paradigm of 'scarcity of jobs' would convert into a 'scarcity of talent'," Deloitte Strategy and Innovation Vice President Manish Agrawal said here in an interview with Xinhua.
"Talent deficit is likely to grow significantly in the coming years as universities and educational centers are not providing adequate skills for the country to produce required number of talented managers," he said.
Unless a fundamental shift occurs in the educational system, it will continue to produce degree-holders but they will lack skills to operate in a corporate environment, he added.
Agrawal has authored a study on the evolution of the Indian manager from the pre-liberalization period till now
The report stated that globalization, post-1991, has helped the Indian managers to develop their competence and a global outlook unleashing a wave of creativity and innovation in the domestic industry.
"However, not many managers in the country have required soft skills, like communication abilities for operating in a global environment among others. We need to build such skill sets to enhance our talent pools," Agrawal said.
