In a major step towards deepening multilateral cooperation in skill development, vocational education, and training, the Ministry of Skill Development and Entrepreneurship (MSDE), Government of India, has signed a Memorandum of Understanding (MoU) with the World Economic Forum (WEF) to collaborate on strengthening India’s skills and Technical and Vocational Education and Training (TVET) ecosystem.

Through this MoU, MSDE will collaborate with the World Economic Forum to launch and implement a Skills Accelerator in India, a multistakeholder platform aimed at identifying, scaling, and accelerating innovative solutions and public–private partnerships to address critical skills gaps in the workforce. The Accelerator will support efforts to strengthen India’s Technical and Vocational Education and Training (TVET) ecosystem by ensuring closer alignment between skilling initiatives and the evolving demands of industry and the global economy.

Commenting on the milestone achieved, Shri Jayant Chaudhary, Minister of State (Independent Charge) for Skill Development and Entrepreneurship and Minister of Education, Government of India said, “What began as a strategic vision to align India’s skilling ecosystem with the future of work has now taken a structured and global form. The formalization of the India Skills Accelerator, in partnership with the World Economic Forum, marks a key milestone in building a future-ready, globally competitive workforce. By bringing government, industry, and education together, the initiative strengthens coordinated action to address current and emerging skill gaps, enable outcome-based skill financing, and promote lifelong learning and alignment with global labour-market demand. Aligned with NEP 2020 and Vision India@2047, it reinforces skilling as a central pillar of inclusive growth and national transformation.”

Commenting on the announcement Shri Sukanta Majumdar, Minister of State for Education said, “I warmly welcome the landmark MoU between the Ministry of Skill Development & Entrepreneurship and the World Economic Forum to launch the Skills Accelerator in India. This collaboration strongly complements the vision of the National Education Policy (NEP) 2020 by integrating education with skilling, fostering lifelong learning, and aligning curricula with future industry needs.

This initiative will significantly benefit India by bridging critical skill gaps, enhancing the global employability of our youth, and ensuring that India’s talent pool is aligned with emerging domains such as artificial intelligence, green energy, robotics, and advanced manufacturing. By promoting industry-linked training, mutual recognition of qualifications, and innovative financing for skilling, the partnership will strengthen our TVET ecosystem, support inclusive growth, and position India as a global hub for skilled manpower and innovation in the journey towards Viksit Bharat @2047.”

Sanjiv Bajaj, Co-Chair for India Skills Accelerator, and Chairman & Managing Director, Bajaj Finserv Ltd., said, “The India Skills Accelerator initiative is a strategic step towards strengthening India’s long-term competitiveness. Aligning global insights on the future of work with India’s talent pool will help build scalable, industry-aligned skilling architecture that supports productivity, innovation and inclusive growth. With over 500 million people under the age of 25, skilling India’s youth is central to converting our demographic advantage into economic leadership. At Bajaj Finserv, skilling is a core pillar of our social commitment under the Group’s Rs. 5,000 crore Bajaj Beyond CSR programme. Sustained investment in human capital will be critical to realising the Prime Minister Shri Narendra Modi’s vision of a Viksit Bharat by 2047.”

“India’s workforce advantage lies in aligning scale with skills. The India Skills Accelerator strengthens the link between policy and practice—mobilising industry, educators, and innovators to translate emerging workforce needs into deployable skills and sustainable jobs. In partnership with the World Economic Forum, it positions India as a trusted, future-ready talent contributor to the global economy,” said Ms. Shobana Kamineni, Co-Chair for India Skills Accelerator Executive Chairperson Apollo Health Co & Promoter Director Apollo Hospitals.

The Skills Accelerator will focus on strategically addressing skills gaps by promoting lifelong learning, upskilling, and reskilling, in line with India’s Vision @2047 and the National Education Policy (NEP) 2020. The initiative will encourage flexible curriculum, integration of vocational and higher education pathways, mutual recognition of qualifications, and capacity building across institutions. MSDE will work closely with higher education institutions, vocational training institutions, and regulatory bodies such as AICTE and UGC to support awareness, implementation, and scale the Accelerator.

As part of the collaboration, the Accelerator will also support innovative financing mechanisms for skilling, enable strategic coordination among key stakeholders, and identify emerging global demand and supply trends across trades and job roles to enhance international employability. Special emphasis will be placed on collaboration in emerging Future of Work domains, including artificial intelligence, robotics, green energy, cybersecurity, and advanced manufacturing, alongside innovation-led activities such as hackathons and the rollout of a structured Action Plan.

The implementation of the MoU will be overseen through a governance framework involving Co-Chairs from government and the private sector, in collaboration with the World Economic Forum. MSDE will play a central role in setting the strategic direction of the Skills Accelerator, coordinating stakeholder engagement, and championing the initiative across industry, government, and civil society, while also contributing to monitoring and impact assessment mechanisms.

The MoU also reflects strong inter-ministerial coordination, with the Ministry of Skill Development and Entrepreneurship, the Ministry of External Affairs, and the Ministry of Education working together to advance India’s skilling and vocational education agenda through global partnerships.

This collaboration marks a new chapter in India and WEF relations, building on the momentum generated during India’s participation at the 55th WEF Annual Meeting in Davos-Klosters, Switzerland, in January 2025, where skill development was highlighted as a strategic pillar for inclusive growth and global collaboration.

Through this partnership with the World Economic Forum, MSDE aims to accelerate reforms, deepen global linkages, and position India as a leading hub for skills, talent, and innovation, contributing to a resilient, inclusive, and future-ready workforce for the decades ahead.

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