India might have more than 10 million apprentices in the next 5 years

Mar 28, 2022

By: Vaamanaa Sethi

To make students industry ready, 92 percent of the universities and higher education institutes in India...

...believe that degree apprenticeships can equip students better to meet the demands of the evolving workforce than regular degrees.

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What is a degree apprenticeship?

A degree apprenticeship is a job combined with a university degree, which means that you'll be working for an employer most of the time and studying at university.

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The latest report ‘Future of Apprenticeship in India’ by TeamLease reveals that...

...62 percent of the universities say that apprenticeship has created a sustainable cycle of learning by enabling students to earn while they learn.

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“In India, we have a major skills crisis.

There are close to 1.2 crore students who graduate every year, but only 35 percent of these students are actually employable enough to join the industry. Over the past few years, degree apprenticeships have emerged as a solution to this skill crisis,” says Shantanu Rooj, founder and chief executive officer (CEO) at TeamLease EdTech.

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The unemployment rate may have fallen to 7.24 percent (CMIE, as of March 15, 2022) but remains elevated.

Moreover, the unemployment of youths with higher education qualifications is among the more significant challenges the country is facing, says the report.

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The report further says that apprenticeship not only makes students industry ready but also helps...

...them get a source of income, which can further reduce the burden of their tuition fees or help them solve their financial problems.

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With only 4-5 universities offering degree apprenticeships in India today,...

...there are close to 63,000 active degree apprentices currently. There are only 5 lakhs apprentices in India right now.

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However, India might have more than 10 million apprentices in the next 5 years,...

...as 70 percent of the higher education universities/institutes are in favour of introducing degree apprenticeship programmes, says the report.

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And 61 percent of the employers who hired degree apprentices perceive that the Return on Investment (ROI)....

...from this category is greater than 51 percent.

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With only 0.11 percent apprentices out of the total workforce, India has the lowest number of apprentices...

...as compared to other countries like USA, UK, Germany, Switzerland, Australia and Denmark.

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