India and World Economic Forum Sign MoU to Scale Vocational Training Efforts

New Delhi: The Ministry of Skill Development and Entrepreneurship (MSDE) on Thursday formalised a Memorandum of Understanding with the World Economic Forum (WEF) to bolster India’s Technical and Vocational Education and Training (TVET) framework through a joint initiative named the India Skills Accelerator.

Under the agreement, MSDE and the WEF will jointly launch and implement the India Skills Accelerator, a multistakeholder platform designed to pinpoint, expand and fast-track scalable solutions and public-private collaborations that can bridge significant skills gaps in the Indian workforce. The platform aims to ensure that training, assessment and certification systems respond to changing industry needs and global labour market trends.

The Skills Accelerator will engage government bodies, industry players, educators and civil society to align skilling programmes with demand. It will also prioritise mechanisms for shared governance, impact evaluation and financing targeted at measurable outcomes. A governance framework under the MoU will include co-chairs from the government and the private sector to steer strategic direction and oversee execution.

According to MSDE, the initiative seeks to strengthen the existing ecosystem of skill centres, Industrial Training Institutes and polytechnics that equip learners with practical competencies for jobs and careers. The collaboration is expected to improve global employability prospects for Indian youth and tailor training to emerging segments such as artificial intelligence, green energy, robotics and advanced manufacturing.

Jayant Chaudhary, Minister of State (Independent Charge) for MSDE and Minister of Education, said the partnership marks a significant step in enhancing India’s readiness for the future of work. He stressed the need for closer cooperation among government, industry and education stakeholders to address both current and future skill shortages.

Shri Sukanta Majumdar, Minister of State for Education, noted that the MoU complements the aims of the National Education Policy 2020 by reinforcing lifelong learning, industry-linked training pathways and mutual recognition of qualifications.

Sanjiv Bajaj, Co-Chair of the India Skills Accelerator and Chairman and Managing Director of Bajaj Finserv Ltd., said leveraging global insights on the future of work will help build a scalable, industry-aligned training architecture that supports productivity and inclusive growth. He noted that with more than 500 million Indians under the age of 25, skilling the youth remains central to converting the demographic profile into economic advantage.

The MoU aligns with India’s Vision India @ 2047 agenda and reinforces vocational training as a core component of national development strategy, with an emphasis on integrating education and skill development at multiple levels.