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YES BANK-YES Global Institute study outlines a three-pronged approach to build a dynamic & modern Indian Skill Ecosystem

  • Release of YES BANK- YES Global Institute study on ‘Indian Skill Ecosystem – Scoping Opportunities for India-UK Partnership

  • Interactive session on India-UK Skills Partnership with Invest India and UK India Business Council (UKIBC)

Delhi, April 24, 2018: YES BANK and YES Global Institute partnered Invest India and UK India Business Council (UKIBC) to host an interactive session on identifying a roadmap towards building a robust skill ecosystem to meet the needs of an evolving job market.

The event witnessed the release of the YES BANK – YES Global Institute study ‘Indian Skill Ecosystem – Scoping Opportunities for India-UK Partnership’, which outlines a three-pronged approach to building a dynamic & modern Indian Skill Ecosystem, namely – Policy interventions, Operational interventions and Robust Skill Ancillary Infrastructure. The study provides insights on on-ground demand, outlook & skill delivery and provides a recommendation framework based on sector specific labour market information systems and skill development plans.

Preeti Sinha, Senior President, YES BANK and Glocal Convenor, YES Global Institute; Deepak Bagla, MD & CEO, Invest India; Gavin McGillivray, Minister Counsellor Development and Head DFID India; Shri Rajesh Agrawal, Joint Secretary, Ministry of Skill Development and Entrepreneurship (MoSDE) and Nikhil Sahni, Group President, Govt Banking and National Head, Branch Banking, YES BANK unveil the YES BANK - YES Global Institute report on ‘Indian Skill Ecosystem – Opportunities for India-UK Partnership’.

Commenting on the initiative, Rana Kapoor, MD & CEO, YES BANK and Chairman, YES Global Institute said, “Developing and empowering human capital to transition to a new-age economy, powered by Digitization and the 4th Industrial Revolution, is of paramount importance globally. The stakes are even higher for India, where favourable demographics are at the core of our competitive advantage over the next two decades. I firmly believe that the UK’s expertise and experience in skilling can provide valuable guidance as we continuously improvise to make our skill ecosystem truly world class.”

Deepak Bagla, MD & CEO, Invest India said, “Beyond the basic skilling gaps currently targeted by government schemes, the next big challenge for India is to develop new age skills for the evolving world of AI and automation.”

Gavin McGillivray, Minister Counsellor Development and Head DFID India said, “The report provides a timely and valuable snapshot and comparison of the skilling system in India and the UK. It makes a number of recommendations and suggestions, which we can build on to enhance India-UK collaboration on Skill Development.”

The Conclave also included a panel discussion on ‘India-UK Engagement for New Collar Jobs’ led by Ms. Sunita Sanghi, Senior Advisor – Skill Development and Employment, NITI Aayog; Mr. Richard McCallum, MD, UKIBC; Mr. R.C.M. Reddy, MD & CEO, IL&FS Education; Mr. Jawed Ahmed, MD, Perkins India Ltd. and Mr. Rajat Khawas, Head Services & Government Business, Manipal City & Guilds. The discussion deliberated on the opportunities and challenges at the G2G and B2B level to develop a India-UK partnership for ‘New Collar Jobs’ through the prism of policymakers, skill providers, UK bases businesses and skill practitioners.

About YES Global Institute

YES Global Institute, the practicing think tank at YES BANK, has been established to focus on actualizing India’s sustainable and inclusive socioeconomic growth and development through research & financing in emerging sunrise sectors. Headquartered in New Delhi, India – YES Global Institute conducts research on areas impacting India’s socioeconomic development, including taxation, health-care, education, economic security, energy and natural resources to name a few. Towards the same, YES Global Institute is driving discourse on concepts such as cultural industries, innovation districts, impact of digitization, natural capital & channelizing private capital for holistic development through dialogue facilitation, knowledge creation, skill development and extensive stakeholder engagement.

About YES BANK

YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.

For further information, please contact:

YES BANK
Alisha Prakash
Ph.: +91 7042662323
Email: alisha.prakash@yesbank.in

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