Expanding the Scope of Corporate Social Responsibility (CSR): Strategizing Skill Development in the Indian Scenario

Abstract

India is transitioning demographically with a large population of youngsters. To harness this population trend into a „demographic dividend,‟ it is essential to enhance the skill level of our youth. The Government of India (GoI) has taken many proactive measures in this regard. „Skill India Campaign‟ is one such measure. Though India‟s corporate sector has also been contributing to skill training through its Corporate Social Responsibility (CSR) initiative, the efforts have been few and far between. The first part of this paper explores the Skill scenario of India, and the role played by both Public and Private sector to address the current skill gap. The second part of the paper suggests a possible solution to address the „skill gap‟ through a proactive Public-private partnership (PPP) by implementing a remodelled CSR strategy. Government and corporate sector can work together in the skill training arena through CSR and make it a mutually beneficial, sustainable activity to develop India into a “skill capital” of the World. The potential advantages of such a partnership for each player involved are also explored in detail in this part.