Start-up Culture and Skill Development Driving Force of the Jobless Economy to Lucrative New Enterprise Creation and Employment Generation in India

Abstract

Jobless growth is a major challenge around the world; hence Start-up culture is most feasible alternative welcomed with open arms by the Indian Government with various sustenance schemes in last decade for creating jobs for youth. For such broader global context this paper attempts to understand unemployment issues in India and reviews different policies/schemes of skill development that enables the youth to adapt to changing requirements and also offers new opportunities for the next generation. Current study also describes major forces impacting shifts towards employment generation through globalization, domestic Indian markets, and adaptation of exponential technologies like artificial intelligence, robotics, incubators and Internet-of-Things (IoT) by Indian industries. In conclusion the study offers the causes and ways and means to address the unemployment and underemployment issues.