Skilling
To achieve all this, there is an immediate need to have a vibrant skill development set up in the country. India will have approximately 25 per cent of the world's total workforce by year 2025.
On the other hand, by 2022, India will require about 500 million skilled workers across all skilled sectors, specifically in the manufacturing; the country will see a skills gap of nearly 90 million workers — almost twice the current figure.
Synergy between policy, industry and academia has to be created for re-aligning the university education system to the industry needs. A close collaboration between industry, academia and government has to be managed to address the inputs (quality /skills of faculty, curriculum content & design , mode of delivery) in order to ensure the output (Graduates/Diplomas) is skilled productively.
Conclusion
The Indian defence sector will be a significant opportunity for both foreign and domestic players, given the government's intent to promote the domestic defence industry via a fresh dose of defence reforms.
The 'Make in India' initiative is a major enabler designed to facilitate investment, foster innovation, enhance skill development and build best-in-class manufacturing infrastructure. The clearance of 33 defence applications and the deregulation of defence product list, excluding a large number of components from purview of industrial licensing, will provide a major impetus to advanced manufacturing in defence sector in the country.
Rolls-Royce has strong domestic relationships with many partners like Hindustan Aeronautics Limited, QuEST Engineering and Tata Consultancy Services. We continue to explore new partnerships for similar synergies.
With a higher FDI limit, there will be opportunities to further contribute in the development and modernisation of India's defence sector by offering world-class innovative products and services.
At Rolls-Royce, we are well poised to cater to the growth opportunities available in the India region. We look forward to continue to offer India a unique combination of technology, experience and innovation that can help to improve the capability of our customers.
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