THEBUSINESSBYTES BUREAU

NEW DELHI, JANUARY 22, 2026

In a decisive move to strengthen India’s workforce competitiveness and future-proof its economy, the Ministry of Skill Development and Entrepreneurship (MSDE), Government of India, has signed a landmark Memorandum of Understanding (MoU) with the World Economic Forum (WEF) to deepen cooperation in vocational education, training and skill development. The partnership signals a major boost for India’s Technical and Vocational Education and Training (TVET) ecosystem, aligning skilling initiatives with the fast-evolving demands of industry and the global labour market.

At the heart of the collaboration is the launch of the India Skills Accelerator, a multistakeholder platform designed to identify, scale and accelerate innovative solutions and public–private partnerships to bridge critical skills gaps. The Accelerator will bring together government, industry, education institutions and global experts to create a more responsive, industry-aligned skilling architecture that supports productivity, innovation and inclusive economic growth.

Jayant Chaudhary, Minister of State (Independent Charge) for Skill Development and Entrepreneurship and Minister of Education, described the MoU as a defining milestone in India’s skilling journey. He said the formalisation of the India Skills Accelerator with the World Economic Forum gives global shape to India’s vision of a future-ready workforce, reinforcing skilling as a central pillar of inclusive growth and national transformation. Aligned with the National Education Policy (NEP) 2020 and Vision India@2047, the initiative aims to address emerging skill gaps, enable outcome-based financing and promote lifelong learning in sync with global labour-market needs.

Echoing this view, Sukanta Majumdar, Minister of State for Education, said the collaboration strongly complements NEP 2020 by integrating education with skilling and aligning curricula with future industry requirements. He noted that the initiative would enhance the global employability of Indian youth, particularly in high-growth domains such as artificial intelligence, green energy, robotics and advanced manufacturing, while positioning India as a global hub for skilled manpower and innovation.

From the industry side, Sanjiv Bajaj, Co-Chair for India Skills Accelerator and Chairman & Managing Director of Bajaj Finserv Ltd., underlined the strategic importance of sustained investment in human capital. He said aligning global insights on the future of work with India’s vast talent pool is essential to converting the country’s demographic advantage into long-term economic leadership, adding that skilling remains a core pillar of the Bajaj Group’s social commitment.

Shobana Kamineni, Co-Chair for India Skills Accelerator and Executive Chairperson of Apollo Health Co and Promoter Director of Apollo Hospitals, highlighted that the Accelerator strengthens the crucial link between policy and practice. By mobilising industry, educators and innovators, she said, the initiative will translate emerging workforce needs into deployable skills and sustainable jobs, reinforcing India’s position as a trusted talent partner to the global economy.

The Skills Accelerator will focus on promoting lifelong learning, upskilling and reskilling, encouraging flexible curricula, integrating vocational and higher education pathways, and enabling mutual recognition of qualifications. MSDE will work closely with higher education and vocational institutions, along with regulatory bodies such as AICTE and UGC, to scale implementation and build institutional capacity. The collaboration will also support innovative financing mechanisms for skilling, improve international employability and track global demand-supply trends across job roles, with a strong emphasis on future-of-work sectors including AI, cybersecurity, green energy and advanced manufacturing.

The MoU will be implemented through a robust governance framework involving co-chairs from government and the private sector, in collaboration with the World Economic Forum. It also reflects strong inter-ministerial coordination among MSDE, the Ministry of External Affairs and the Ministry of Education, underscoring India’s integrated approach to global skilling partnerships.

Building on the momentum from India’s participation at the 55th WEF Annual Meeting in Davos in January 2025, this partnership marks a new chapter in India–WEF relations. Through the India Skills Accelerator, MSDE aims to accelerate reforms, deepen global linkages and position India as a leading hub for skills, talent and innovation, powering a resilient, inclusive and future-ready workforce for the decades ahead.