India has a great chance to catapult Recovery

Coursera’s Global Skills Index 2020 (GSI), takes stock of state of skills around the world and gives some very interesting insights about the future skills landscape.

The report benchmarks skills proficiency for 60 countries, 10 industries, and 11 fields of study in business, data science, and technology.

It also highlights impact of the pandemic on the skills landscape. The report underlines that higher skills proficiency is linked to economic progress across multiple dimensions, including GDP, labor force participation, and income equality.

Going by the World Bank’s latest report, every skill proficiency percent gained for a country is associated with a $600 increase in GDP per capita and Fidelity’s report that Industries with more highly skilled talent, especially in technology skills, see higher stock returns and less disruption from COVID-19. We may infer that although India needs better reskilling in data science domain, its chances of post-pandemic recovery is better because as per the GSI, within the business domain, India ranks 34 globally (emerging), whereas China ranks 45. Within the technology domain, India ranks 40 globally (emerging), whereas China ranks 50.

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