Blog

Is the country on the verge of a skills crisis?
From the new normal to the better normal, the Indian tech industry has once again emerged as a shining example of resilience and growth.

Transforming the digital landscape with intelligent systems and automation, it has created new opportunities which have opened diverse career paths.

There’s a flip side to this. The speed of technology has once again outpaced curricula and this in turn has shrunk the shelf life of the skills acquired by the graduates, leaving them unprepared for industry demands and hindering their employment readiness.
What we have today is a scarcity of employable talent and a swarm of engineers with degrees but few or no job skills.

What we need is skills training on a war footing.

“Real learning comes through asking the ‘how’ question. How are we going to use technology to solve the industry problem? At this point the student will not think whether they are good in Python or programming rather they would think more on solving the problem by the confidence that they have gained through practical exposure.” says Damodharan Padmanaban, Global Head of Cognitive Computing, 3i Infotech.

Today, the market acknowledges the need for cohesive consistency between the skills taught by academic institutions and the ones needed by the industry. Organizations are re-evaluating their talent strategies, in this evolving landscape, and are now working towards building a culture of continuous investment in learning initiatives rather than relying on fresh-out-of-college talent who may not deliver.

Industry-academic collaboration in developing employment -ready programs can go a long way in fostering an ecosystem that safeguards employability while maximizing societal and business benefits.

Call it a progressive Plan B that works in many ways – it helps students accelerate their marks-to-market journey with the latest knowledge and competencies; organizations stay ahead of the curve and thrive in a rapidly evolving digital ecosystem, and it fosters a harmonious relationship between academia and industry.

“Partnership with educational institutions is a part of NuRe FutureTech’s social entrepreneurship fabric. Empowerment through edification by narrowing down the bridge between industry and academia, is the way forward, “says Thompson P Gnanam, Managing Director & Global CEO · 3i Infotech Ltd.

NuRe FutureTech Private Limited is a wholly owned subsidiary, accelerator, and transformation partner of 3i Infotech Limited.

Offering future –ready solutions and services for Cloud, AI, Advanced Analytics, Blockchain, ML, and a broad spectrum of cognitive offerings, the Company is fast emerging as a disruptor in the technology landscape.

Since its inception, the Company has diligently invested in nurturing talent in technology training to provide career pathways as a part of its core business initiative, centred on the nation’s larger vision of becoming the world’s skill capital.

The Campus to Corporate Initiative of NuRe FutureTech is a dedicated corporate effort that focuses on providing platform expertise that facilitates a transformational leap required to help academicians deliver relevant learning and prepare student graduates for employable and industry -ready skills.

The Company recently signed a Memorandum of Understanding (MoU) with the Department of Computer Science at SRM Valliammai Engineering College, Chennai to establish a state-of-the –art AI Lab within the institute’s campus. This collaboration marked the beginning of
NuRe FutureTech’s effort to promote knowledge exchange, research opportunities, and academic growth.

The MoU was signed at the IIT Madras Research Park in the presence of Dr B. Chidhambararajan, Director SRMVEC, Dr M. Murugan Principal SRMVEC, Dr B. Vanathi, Professor and Department Head of Computer Science and Engineering (CSE), Dr B. Muthusenthil, Professor and Department Head of AI & Data Science (DS), and faculties from the Departments of CSE and AI & DS.

“India is going to face a shortage of 14-19 lakh tech professionals by 2026. The country is projected to have 75-78 lakh tech professionals by 2026, whereas the need may go up to 93-96 lakh techies.” Nasscom-Zinnov Report (Source-Business Today-Feb 17, 2022)

NuRe FutureTech firmly believes in the power of skilling and education programs to solve India’s employability challenges. Prioritizing skill development not only impacts business value positively but also ensures investment in a workforce that is future prepared.
The possibilities are endless and promising.