By - 14 February 2020
14 February 2020
Initiating vocational training at the school level will make young people employment-ready and also boost India’s competitiveness
Prior to the Industrial Revolution, till the early 19th Century, India’s share in the global population and GDP was around 25 per cent, similar to China. India’ agricultural and artisanal produce were so attractive in global markets that a trading company, the East India Company, went on to colonise all of India.
Now, 200 years later, India is still trying to become a successful industrialised economy. As the Industrial Revolution moved through its different phases, the understanding of what drives success has also evolved. Initially, the availability of natural resources such as coal and iron ore were seen as giving a natural advantage.
However, Japan, with none of these natural resources, became a major industrial power and the most efficient producer of steel. It demonstrated that human beings remain central to competitiveness and the creation of wealth in the Industrial Age.