Sunday, September 22, 2024
Misunderstanding parents.
"India is set to add $1 trillion to its GDP every 18 months over the next six years," as "India's accelerated growth will be driven primarily by the manufacturing sector, which is projected to contribute 32% to the incremental Gross Value Added (GVA)." ET. "India is on track to becoming the third-largest economy by 2030-31, driven by a projected annual growth rate of 6.7% this fiscal, S&P Global said in a report." BS. A few days back, "Prime Minister Narendra Modi accompanied by his Singapore counterpart Lawrence Wong...visited a leading Singaporean semiconductor company and signed an MOU on India-Singapore Semiconductor Ecosystem Partnership." The Indian Semiconductor Mission (ISM), which is a division of Digital India Corporation, is to receive a second dollop of $10 billion, having exhausted the first. ET. "India is set to establish its first national security semiconductor fabrication plant that will supply chips to the US armed forces, allied militaries, and Indian defense forces." A joint fact sheet said, "The fab which will be established with the objective of manufacturing infrared, gallium nitride and silicon carbide semiconductors, will be enabled by support from the ISM as well as strategic technology partnership between Bharat Semi, 3rdiTech, and the US Space Force." TOI. "The government might spend five times more on this sector than it does on support for solar panels or autos - and 50 times more than it plans for labor-intensive sectors such as leather goods." "Officials are at least aware that one of the biggest bottlenecks is the availability of engineers. If their plans are to come to fruition, they estimate they need between 10,000 and 13,000 trained workers by 2037," wrote Mihir Sharma. That is a minuscule number considering, "As of 2021, India annually produces 1.5 million engineering graduates. India's technical education infrastructure includes 2500 engineering colleges, 1400 polytechnics and 200 schools of planning and architecture." wikipedia. The problem is that, "Estimates show that about 51.25% of youth is deemed employable. In other words, about one in two are not readily employable, straight out of college," found the Economic Survey 2023-24. Mint. Out of the cream, "A recent analysis by the Migration Policy Institute (MPI), a US based think-tank" found that in the US, "India led the global pool of educated immigrants, constituting 2 million degree holders, or 14% of the total educated immigrant population." TOI. In addition to the qualified Indians, 13,35,875 Indian students are studying in 108 countries in 2024, including 4,27,000 in Canada and 3,37,630 in the US. India Today. In 2023-24, 49,483 Indian students were studying in Germany, an increase of 15.1% over the previous year, with 60% pursuing engineering programs. India Today. MOU stands for Memorandum Of Understanding. ET. Unfortunately, Indian parents don't understand. They want their children to escape.
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