CONTEMPORARY ANALYSIS OF ECONOMIC STATUS OF INDIA & NEED OF SKILL MAPPING

The rapid progress India has made in the last couple of years on the economic parameters is extraordinary and enthusiastic. Ease of doing trade or get rid of intensive inspector system, India now have a positive environment for foreign investors, NRIs and other countries. Economic parameters are more concrete than political rules, that is, whose status across the globe increases, its international strength increases automatically. Economic status is not a matter of biased opinion or bizarre conjecture, it is decided on the basis of solid data, facts and figure. India's economic status is steadily increasing, it does not mean that the problems are over. Increasing status simply means that the necessary strength to deal with problems is increasing. In the last decade, with the advent of technology there is a qualitative and radical change occurred in India's economy from agricultural activities to manufacturing and service-oriented activities. Similarly, this also made impact on the employment factors. Skill initiatives going through a difficult situation in INDIA, where the youth of the country stepping into the labour market and are looking for jobs; on the opposite hand, industries are complaining of unavailability of correctly and cutting-edge professional manpower. This paradox reflects the criticality of skill development in context of need identification, to boost the employability of the developing young population and also to gear-up the economic system to understand the target of faster and inclusive increase with innovative ideas. Keywords: Economic parameters, Industrial Paradox, Skill initiative, Livelihood with skill.