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Can India Lead the Global Workforce of the Future? Insights from the ETHRWorld Annual Conclave 2025ETHRWorld

Can India Lead the Global Workforce of the Future? Insights from the ETHRWorld Annual Conclave 2025ETHRWorld

Time of India22-07-2025
Demographic dividend, realised or wasted?
From talent supply to skills innovation hub
Advt
Skilling in a multi-generational workforce
Skilling at the speed of change
Building for agility and innovation
The human core of the skills race
The path ahead
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As the global war for critical skills intensifies, the question facing policymakers, companies, and educators is no longer whether they need to transform or not, the question is — how fast? That urgency set the tone for the opening panel at the ETHRWorld's Future Skills Conference 2025, titled 'The Global Skills Race : Who Will Lead the Workforce of the Future?' Held in Mumbai, the panel brought together leading voices from industry and academia to examine what it will take for India to move from a talent-rich nation to a true skills powerhouse.Together, they tackled a fundamental question: Can India truly lead the global workforce of the future?India's young population, expected to reach 900 million working-age individuals by 2030, has long been viewed as its greatest strength. But as Hemalakshmi Raju, CLO, Leader-Diversity & Inclusion, Reliance Industries (Hydrocarbon Business) cautioned, 'It's not just potential, we need to convert potential into possibility. Our success with platforms like UPI shows that we can do it at scale.' She pointed to India's modest ranking in Coursera's Global Skills Report (89th out of 109 countries, and 46th in AI maturity) as evidence that intention must be matched by investment.Naushad Noorani, Group Head - Organization & Talent Development, RPG Group, expressed cautious optimism. 'We've shown we can scale national AI solutions like DigiYatra and DigiLocker. The only thing standing in our way is our own ability to learn, unlearn, and relearn.' He also emphasised the need for stipends and support systems to help young earners stay engaged in formal skilling programmes.For Prasad Dixit, Head-Learning and Talent, Lupin, India's moment is now. 'We are no longer just a talent supplier. The world sees us as a capability and innovation hub,' he said. However, he cautioned that alignment between policy, industry, and education remains critical.Representing academia, Dr Shibani Belwalkar, Professor of HRM and Director of Executive Education at SDA Bocconi Asia Center, Mumbai, offered a critical lens. 'We are skilling fast but are we creating enough meaningful opportunities for those skills to thrive?' She also flagged a major mindset shift in the incoming Gen Z and Gen Alpha workforce. 'They're not looking for traditional careers. They're building portfolios of experiences, what we call flexible variety and flexible stability,' she said, urging employers to redesign roles and assessment metrics accordingly.In an age where skills become obsolete quickly, adaptability has become a non-negotiable leadership trait. 'Skills don't disappear—they mutate,' said Allwyn Dsilva, VP & Global Head-L&D, Future of Work & Business HR, Tata Communications. He described how the company uses AI across its talent lifecycle, from hiring to L&D to internal mobility. Employees can view role options, assess skill gaps, and access personalised learning journeys — all within a unified, AI-powered platform.Cross-sector mobility and role fungibility were also key themes in the discussion. Noorani shared RPG's multi-year plan to map skills across 80% of their roles, with future plans to build individual learning maps and mobility corridors between sectors. 'We're building pathways so someone in EPC can add value in tech, or someone in pharma can collaborate with IT teams,' he shared.For Lupin, Dixit stated that innovation must co-exist with regulatory rigour. 'We're building functional academies that serve both purposes,' he said. 'People in R&D get exposed to AI, and data scientists learn about compliance.' The goal: a cross-trained, innovation-ready workforce.When asked what skill no leader can ignore in 2025, the panel's responses were telling: learning agility, emotional intelligence, authenticity, and compassion. 'AI might isolate us,' said Noorani. 'But human connection will keep us grounded.'Outdated practices were also called out: static annual training plans, man-days as a metric, and chasing participation over outcomes. 'Let's stop pushing people to learn,' Taj noted in closing. 'Let's make them want to.'As Dr Belwalkar aptly put it, 'This isn't a race to lead, it's a race to move forward.' With robust partnerships between industry, academia, and government, and a generational opportunity in hand, India might just have what it takes to lead the global workforce of the future.
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Retail reshuffle in equity market: Tata Motors, Yes Bank, Vodafone Idea now most widely held stocks; Reliance Power, SBI lose top ranks as small investors chase turnaround bets
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  • Time of India

Retail reshuffle in equity market: Tata Motors, Yes Bank, Vodafone Idea now most widely held stocks; Reliance Power, SBI lose top ranks as small investors chase turnaround bets

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Benchmarks end lower as tariff fears weigh, Nifty ends below 24,650
Benchmarks end lower as tariff fears weigh, Nifty ends below 24,650

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Benchmarks end lower as tariff fears weigh, Nifty ends below 24,650

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Russian oil imports: What are India's options as US threatens further tariffs?
Russian oil imports: What are India's options as US threatens further tariffs?

Scroll.in

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  • Scroll.in

Russian oil imports: What are India's options as US threatens further tariffs?

The US has threatened to impose an unspecified penalty in addition to 25% punitive tariffs on India for its imports of Russian oil. To avoid these sanctions without harming India's economic interests, India has two broad options: restructuring supply chains or diversifying export markets. Using the first option, India can reduce its dependence on Russian oil by reverting to traditional oil-importing routes, such as the Middle East, the US, Africa, and Latin America. Or, India can identify alternative markets beyond the European Union, such as the Asia-Pacific and African countries, for exporting refined oil products. The sanctions by the EU on Russia introduced significant uncertainty and volatility in the global oil market. While European countries have established new supply relationships with Middle Eastern producers, Russian oil flows have shifted predominantly to Asia. The top three destinations for Russian crude oil exports are: India (with a 28% share and 1.69 million barrels per day (mbd)), China (with an 18% share and 1.09 mbd) and Turkey (with a 7% share and 0.4 mbd). Countries like India, which have significantly increased their crude oil imports from Russia in recent times and enhanced export of refined petroleum products to Europe, may face challenges due to the sanctions. The EU sanctions have significantly altered Russia's energy trade dynamics. Prior to the conflict, in 2021, Russia's exports to Asia and Oceania accounted for 34% of its crude oil and 16% of its petroleum products. However, by 2024, this region became the primary destination for 63% of Russia's crude oil exports and 36% of its petroleum product exports. To attract buyers, Russia has been offering substantial discounts on its crude oil, pricing it $15-$20 below the international benchmark price. As a result, India emerged as Russia's largest crude oil importer between 2023 and 2024, surpassing China. During this period, India's share of Russian crude oil imports increased from 30% to 34%, while China's share decreased from 32% to 26%. Indian refiners, including Reliance Industries and Nayara Energy, have leveraged the discounted prices of Russian crude oil to ramp up imports, refining the oil into products like diesel and jet fuel for export to European markets. This shift has been dramatic: in 2021-'22, Russia ranked 10th among India's crude oil suppliers, accounting for a mere 2% share. However, by 2024-'25, Russia became India's top crude oil import source, with a 35% share. The value of imports from Russia surged from $1.1 billion to $50.2 billion during this period. In June 2025, India imported 2.08 million barrels per day (mbd) of Russian crude, the highest since July 2024. Similarly, China's crude oil imports from Russia have also seen a notable increase, rising from $40.5 billion in 2021 (16% share of Chinese crude imports) to $60.7 billion in 2023 (18% share, ranking first). India's exports of refined petroleum products to the EU have seen a significant increase reaching $19.2 billion in 2023-24, up from $8.7 billion in 2021-'22. In 2021-'22, 13% of India's refined petroleum products were exported to the 27 EU countries, and 16% to the broader European region. By 2024-'25, these shares had risen to 24% and 26%, respectively. Indian refiners who contributed 16% of Europe's imports of diesel and jet fuel in 2024, are now at high risk due to the EU's new sanctions announced in May on exports made from Russian crude. Europe had emerged as the top destination for Indian petroleum products. The key products driving this growth included diesel, gasoline, aviation turbine fuel (ATF), and petrochemicals. In October 2024, India's exports to Europe comprised 238,000 barrels per day (bpd) of diesel and 81,000 bpd of aviation fuel. Netherlands ranked number one among European countries with 21% share in 2024-'25. France, Belgium and Italy are other major European partners for export of refined petroproducts. However, there's a notable exemption for refined petroleum product exports made from Russian imports if the country is a net crude exporter. This exemption could benefit Middle Eastern refineries, allowing them to continue exporting to Europe. As a result, Indian refiners may face additional competition in the European market. The EU had previously relied heavily on Russia for several key products, including petroleum oils, natural gas, iron and steel, nickel, and fertilisers, which accounted for over 60% of all EU imports from Russia. The decline in imports from Russia has been particularly notable in sectors like petroleum oils, natural gas and nickel. Between 2023 and 2024, Russia's share dropped from 29% to 2% for petroleum oils, with the import value declining from €14 billion to €1.5 billion. While the share decreased from 39% to 18% in case of natural gas, the decline in share is 41% to 19% for nickel. To mitigate the impact of reduced imports of petroleum oils from Russia, the EU has increased its imports from USA, Saudi Arabia, Norway, and Kazakhstan. European refineries, which were previously standardised with Russian crude (Urals grade), have to adapt to different crude standards which may cause operational inefficiency. The announcement of European sanctions on Russian crude triggered a surge in global oil prices, driven by concerns over potential supply disruptions. To circumvent the sanctions, Russia has employed a 'shadow fleet' of tankers to supply seaborne crude to export destinations. However, these vessels, often older and nearing the end of their lifespan, pose significant environmental and safety risks due to their lower standards. Furthermore, the increased shipping distances and costs associated with seaborne crude trade, both for European imports from the US or Middle East and Russian exports to Asia, raise additional environmental concerns. India faces a strategic choice: comply with US pressure (follow traditional import sources) or proactively diversify its export markets and explore new business models, such as investing in refining capacity in regions not subject to such restrictions.

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