Despite its demographic dividend and increased literacy levels, India faces youth unemployment as a major challenge for labour market policy. Young job seekers make up 49 per cent of the total unemployed in India.
With 93 per cent of the available work provided by the informal sector, a significant number of well-educated youth in India are either unemployed, underemployed, seeking employment or between jobs, or coping with insecure work arrangements.
India’s main challenge regarding youth unemployment is the lack of any form of social security system, as well as proper and adequate avenues for vocational training.
In an environment of immense opportunities for economic growth, India requires more national as well as international cooperation among different labour market actors (trade unions, vocational training organisations, committees at the national level) to sustain it.