According to the World Bank, by 2020, more than 700 million people are estimated to be of working-age in India, out of which 500 Million would require some sort of vocational/skills training. 50 to 70 Million jobs are to be created in the next five years that would require capacity building in basic expertise. RuralShores Skills Academy aims to play a part in grappling with this challenge by creating a sustainable and skilled rural workforce.
A survey done by McKinsey Global Institute shows that multinationals find only 25% of Indian engineers employable. The need is to make the student’s job ready which will happen with Industry collaborating with Institutes.
By doing so, there are benefits that we provide to the village ecosystem.
Apart from providing direct jobs to 200 villagers, there is a hidden indirect benefit.
This contributes to greater independence for women in the rural society. This is also a potential game changer because of its positive social impact on the community, especially in addressing social ills such as early marriages and pregnancies.
Each employment roughly translates into 5 indirect jobs being created. Nearly 45% of our employees at the centre level are women.
The other indirect benefit from our centres is the dissemination of information through our community outreach programmes as well as through word of mouth. This spread of information benefits the village ecosystem while helping grow our knowledge economy.
The economic benefit of a RuralShores Centre cannot be underestimated. Money that flows into the village raises the standard of living in the community as it attracts investment from other sectors such as retail and telecom while simultaneously providing a boost to the local economy.
The local multiplier effect, which is the greater local economic return generated by the overall investment into a RuralShores Centre, is 2.85 and is considered to be extremely good.
Our recruitment of villagers into the services-sector also breaks the traditional nutrition based poverty trap and gives employment to those who might have otherwise been excluded from the world of work and gainful livelihood.