Latest news with #GATI
India.com
3 days ago
- Business
- India.com
Indias Startup Boom: Nearly 76,000 Run By Women, Says Minister
New Delhi: India is witnessing a surge in women-led innovation with around 76,000 startups now being driven by women many of them from tier 2 and tier 3 cities. Union Minister Dr Jitendra Singh highlighted this growing trend, noting that empowered women and youth will be at the forefront of India's journey to becoming a developed nation by 2047, as envisioned by Prime Minister Narendra Modi under the vision of women-led development. Addressing a conference, Dr. Jitendra Singh emphasized that in the past 11 years, the Modi government has built its governance around four key pillars — the Poor, Farmers, Youth, and Women. 'Women-centric governance has not only empowered individuals, but reshaped society. What began as targeted welfare has now evolved into institutional leadership,' he told the gathering. The minister introduced the Jeevika E-Learning Management System App to make education more accessible for women. He also released 'Shashakt Mahila, Samriddh Bihar', a publication that honors and showcases the significant role of women in Bihar's development journey. Dr Singh elaborated on the PM Modi government's structured and comprehensive approach to women empowerment, built across four key pillars. The first phase, Access and Inclusion in Institutions, marked a historic shift in India's educational and military landscape. The second phase, Scientific and Technological Empowerment, has empowered women through targeted schemes such as WISE (Women in Science and Engineering), GATI (Gender Advancement for Transforming Institutions), CURIE, and the Women Scientist Programme. The third phase, Economic and Social Empowerment, has witnessed a massive scale-up of women's access to financial resources. Over 48 crore Jan Dhan accounts have been opened for women, while more than 60 per cent of Mudra Yojana beneficiaries are women entrepreneurs. The creation of over 3 crore 'Lakhpati Didis' through Self-Help Groups (SHGs) is transforming rural economies. Under the Pradhan Mantri Awas Yojana, homes registered in women's names are providing not just shelter but also financial and social dignity. The fourth phase, Workplace Reforms and Legal Sensitivity, has introduced compassionate and inclusive governance measures. These include six-month paid childcare leave for women in government service, pension rights extended to unmarried or divorced dependent daughters, and maternity leave provisions even after stillbirths. (With IANS Inputs)
United News of India
5 days ago
- Business
- United News of India
Fino introduces 'GATI' savings account to penetrate UPI transactions in Bengal
Kolkata, July 16 (UNI) Having made banking easy, simple and convenient, Fino Payments Bank is now focusing on making customers transact instantly right after opening a new bank account. Towards this objective Fino Payments Bank today announced the launch of a new savings account 'GATI', which means 'speed or fast' in many Indian languages. The product is specifically designed to cater to the needs of customers who aspire to use digital platforms for banking services in an affordable manner. As digitalization sweeps India, this segment of customers is ready to make the shift from phygital to digital riding on the rising adoption of UPI. One can open GATI savings account at any of Fino Bank's 40301 merchant points spread across the state of West Bengal and enjoy the benefits. The zero balance GATI account can be opened instantly through eKYC authentication with a one-time account opening fee of only Rs 100. With the help of the merchant they can then download FinoPay mobile banking app that auto-creates UPI ID allowing immediate transactions. Further, account maintenance charges are only levied every quarter at Rs 50, instead of annual fee making it convenient and affordable for customers. Darpan Anand, National Head (Channel Sales), Fino Payments Bank said, 'Smartphone usage is increasing among rural customers irrespective of age, including senior citizens. The introduction of GATI savings account is in line with our strategic intent of bringing digital banking closer to this segment of customers. Our merchants spread across the state can help facilitate opening of GATI account and ensure they are transaction ready instantly. We believe GATI will encourage more customers from the rural hinterlands to engage in safe and secure digital way of banking.' With GATI, Fino Bank aims to target customers with the ability to frequently engage in banking activities especially using UPI. They could be anyone above the age of 18 years, 12th pass, salaried or self-employed and have a smartphone. Primarily, youngsters who are new to banking, women, beneficiaries of various government welfare schemes and senior citizens. They need faster access to banking services to send or receive money, salary, pension or make merchant and bill payments. GATI joins the list of innovative and affordable offerings from Fino aimed at increasing digital banking adoption and usage in rural areas. With FinoPay app customers can also buy insurance, digital gold and apply for referral loans, anytime, anywhere from their smartphone, according to a media release. UNI BM GNK
&w=3840&q=100)
Business Standard
01-07-2025
- Business
- Business Standard
Italy opens 500,000 jobs for foreigners by 2028: How Indians can benefit
Fancy a job in Italy? Its cabinet on Monday approved a new migration decree allowing nearly half a million documented foreign nationals—including Indian citizens—to enter the country over the next three years. The move comes amid a growing labour shortage in the eurozone's third-largest economy. The Italian government said the decision would facilitate 'the entry into Italy of essential labour that is indispensable to the national economic and production system and otherwise unavailable domestically'. The decree sets an annual cap of 164,850 new entries in 2025, with a target of 497,550 over four years. It is the second such decision under Prime Minister Giorgia Meloni, who has now authorised more than 950,000 legal entries since she took office in 2022. Demand growing despite tough stance on migration The policy comes despite the ruling coalition's tough rhetoric on migration. Meloni's government has repeatedly promised tighter border control and action against undocumented arrivals, but has also admitted that Italy's ageing population and shrinking workforce require foreign labour. The latest decree will cover seasonal and non-seasonal workers, home carers, and highly skilled professionals. 'Our government—and many others in Europe—wants to ensure that migration is based on labour market needs. We do not want human traffickers determining who enters; we want democratic, fair systems that give migrants opportunities for integration and decent lives,' said Antonio Bartoli, Italian Ambassador to India. Opportunity for Indian workers Speaking at the launch of the Global Access to Talent from India (GATI) Foundation in New Delhi this May, Bartoli pointed to the demographic gap that links Italy and India. 'We (Italians) are getting older. Currently, 23% of Italy's population is over 65. By 2050, this will rise to 34%,' he said. 'At the same time, India's working-age population will grow by 63 million by 2030 and 120.8 million by 2040.' 'This ageing trend is creating labour market pressures across multiple key sectors, from healthcare to advanced manufacturing and digital services,' Bartoli said. In 2024, around 70% of Italian companies reported difficulties recruiting. The government estimates a shortage of: • 258,000 workers in services like trade, restaurants, and hotels • 45,000 doctors and 65,000 nurses in healthcare • 280,000 skilled workers in engineering and green economy sectors • Specialists in AI, cybersecurity, and data science The ambassador called this a 'natural structural synergy' between the two countries, noting that India could help meet Italy's labour demand if legal channels were strengthened. Legal migration takes priority Bartoli also flagged the importance of maintaining legal pathways and cracking down on irregular entries. 'We do not want to see migration flows controlled by traffickers or unsafe journeys,' he said. 'We want regular migration that meets our labour needs and allows for integration.' Meloni has repeated similar concerns, insisting that while Italy needs some legal migrants, it will continue cracking down on undocumented arrivals. The latest decree also includes incentives for countries that actively promote legal migration and public messaging against irregular routes. As per India's external affairs ministry, 167,333 Indians are currently residing in Italy. With the new decree, this number is expected to grow steadily as more workers enter legally through job-linked permits.
News18
07-06-2025
- Business
- News18
India's Skilled Workforce Can Power The Ageing World
Last Updated: With a cohesive strategy, legal and ethical frameworks, and a visionary approach, India can become the world's hub for skilled individuals' exports By 2030, the world will face an unprecedented workforce shortage of nearly 50 million in developed economies such as the United States, Germany, Japan, South Korea, Canada, the United Kingdom, and Australia. A recent Global Access to Talent from India (GATI) foundation report indicates that this deficit could soar to 250 million by 2050 due to an ageing population, declining birth rates, and shrinking domestic talent pools. While automation and artificial intelligence (AI) may offer some solutions, the pace of technological substitution will not keep up with the demand for human capital from ageing industrial economies. In this context, India has a significant advantage with its demographic dividend of over 900 million working-age individuals, which is often seen as our greatest asset but could also become a demographic burden. To address this challenge, developing the largest pool of skilled and semi-skilled youth and India's established reputation for adaptability and competence could serve as a vital solution. India exports around 7,00,000 of its workforce overseas each year, primarily to sectors such as healthcare, transportation, technology, and hospitality. However, this number could increase to 2.5 million annually with an integrated national plan. Such growth in India's workforce exports would not only help meet global demand but also generate up to $300 billion in annual remittances—more than double the current $129 billion, which ranks India at the top globally. This makes foreign employment a key pillar of India's global economic outreach. Global Demand Hotspots The GATI report indicates that 20 nations will account for nearly 90 per cent of the projected global workforce shortage. The United States will require 11 to 12 million additional workers, followed by the United Kingdom (5 to 6 million), South Korea, Poland, Hungary, and the Czech Republic (4 to 5 million each), Germany and Russia (3 to 4 million each), and Japan (2 to 3 million). Other countries, including Canada, Australia, the Gulf states, Taiwan, the Netherlands, Austria, and Italy, will each need an additional 1 to 2 million workers. Additionally, smaller but high-income nations such as Singapore, Romania, Bulgaria, and Hong Kong will experience shortages ranging from 0.5 to 1 million. The demand is apparent, and India is poised to meet it head-on. Low to High Skills, All in Demand Of the estimated global demand, 70 per cent will be for medium- and low-skilled jobs: approximately 18 to 20 million for low-skilled positions, 6 to 8 million for medium-skilled roles, and 10 to 12 million for high-skilled jobs. Therefore, India's policy must align workforce training with this demand matrix. The challenge is not just to send more workers abroad but to align the right skills with the right locations and industries. A new approach to migration should focus on three key strategies: unleashing global demand, enhancing domestic supply, and building a resilient long-term migration ecosystem. Scaling Up Skills Regarding demand, India must actively engage with destination countries to harmonise skill certifications and expedite mutual recognition agreements. To scale up skills on the supply side, India needs to invest significantly in enhancing technical education, soft skills, and foreign language training, particularly for countries like Japan and Germany, where language proficiency is crucial. Key strategies to overcome these barriers include school-level language exposure, industry-centric training, and efficient grievance redressal systems. Some forward-thinking state governments are already making progress; for instance, certain Delhi government schools have started offering Japanese as a language option, and states like Telangana are pioneering returnee integration programmes. However, these efforts require a nationwide approach and coordination. It is time for India to establish a centralised agency for global workforce mobility, similar to the Department of Migrant Workers in the Philippines or the Bureau of Manpower, Employment and Training in Bangladesh. Such an organisation could unite all stakeholders—ministries, state governments, skill councils, recruitment agencies, and industry bodies—to coordinate recruitment, ensure ethical migration practices, and monitor global demand in real time. Equally important is developing financial support options for migration to help cover travel, training, and placement expenses, particularly for low- and middle-income workers. The country also needs robust welfare systems to protect Indian workers abroad and facilitate grievance redressal and reintegration support for returnees. Additionally, it is essential to continuously map and focus on high-demand sectors for Indian talent. Beyond the traditionally prominent fields of healthcare, hospitality, domestic work, and logistics, India should also concentrate on emerging sectors such as green jobs in renewable energy, infrastructure development, digital public goods, and sustainability-linked startups, where skill gaps rapidly widen worldwide. Addressing Migration Barriers Despite progress, several challenges remain: Indian qualifications are often not globally recognised, and workers face high migration costs along with risks of exploitation by unscrupulous agents. The political discourse surrounding immigration remains contentious in countries such as the US, Canada, and Australia, with much of the opposition focusing on illegal migration. However, skilled, structured, and lawful migration is a top priority for most developed economies, not out of goodwill, but due to economic necessity. These countries require sufficiently skilled staff to sustain growth, support ageing populations, and maintain critical public services. This is where India, with its youthful population and expanding training infrastructure, can position itself as a credible global partner. Diplomatic Push Several initiatives have already been launched. For instance, Germany is expanding its Skilled Worker Visa program, while Japan has increased the categories of apprenticeship visas available for Indians. There are ongoing discussions with Eastern European countries regarding recognising Indian driving licenses. Meanwhile, India is signing government-to-government migration agreements with countries such as Australia, Austria, Denmark, Italy, and the UK. Through the Young Professionals Scheme, up to 3,000 Indians each year can reside and work in the UK for two years. Eight-Point Strategy India must implement an eight-point agenda to address these challenges effectively. First, it is essential to strengthen institutional coordination between central and state governments. Second, a national migration agency should be established, incorporating international best practices. Third, skill certification requirements need to align with global standards. Fourth, a national industry association should be created to oversee and facilitate international mobility. Fifth, frameworks for migrant financing and insurance should be developed. Sixth, a new regulatory system must be implemented to monitor recruitment agencies and prevent exploitation. Seventh, support for the reintegration of returnees should be enhanced. Finally, bilateral and multilateral agreements must safeguard labour rights and welfare. The Way Forward top videos View all The developed world does not require capital; it requires skilled, mobile, and motivated individuals. As ageing economies seek workforce support, India is uniquely positioned to provide this talent. With a cohesive strategy, legal and ethical frameworks, and a visionary approach, India can become the world's hub for credible, trained, and empowered individuals. The next wave of growth will not be driven by capital or commodities, but by a capable workforce. The writer is a Co-Founder and MD of Orane International, a Training Partner with the National Skill Development Corporation (NSDC), and a Network Member, of India International Skill Centres, an initiative of GoI. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect News18's views. tags : Indian workforce japan skilled workforce United states Location : New Delhi, India, India First Published: June 07, 2025, 16:32 IST News opinion Opinion | India's Skilled Workforce Can Power The Ageing World
Mint
06-06-2025
- Business
- Mint
Wanted: A new social contract for ‘Make in India'
Earlier this month, external affairs minister S. Jaishankar launched the Global Access to Talent from India (GATI) Foundation to position India as a global talent hub. GATI signals India's ambition to be at the centre of global labour mobility, offering legal, ethical and safe pathways for Indian workers to fill skill gaps abroad. GATI has the potential to enable a transformation. By creating pathways to high-paying jobs abroad, it can recast the social perception of vocational training. When skilling leads to economic and social mobility, the social contract is complete and individuals are empowered to invest in their own growth. A similar social contract is needed for domestic manufacturing if 'Make in India' is to truly succeed. Also Read: Rahul Jacob: Manufacturing is crying out for a reality check It is necessary to ensure the availability of a skilled and motivated workforce, one that is adept at new-age capabilities such as electric vehicle assembly and meets the requirements of in-demand workers such as qualified welders and fitters who can read machine drawings. We also need to create reliable pathways for stable jobs and economic mobility for skilled workers. To realise this ambition, we must confront a few systemic constraints. First, a large proportion of shop-floor jobs in India remain informal and short term. Around 69% of the manufacturing workforce is temporary and hired usually through formal and informal intermediaries. Smaller intermediaries or contractors are poorly organised, with limited capacity to meet wage and safety standards, let alone invest in skill development. This informal workforce does not have job security, leading to high attrition. The weak fallback net creates a floating pool of workers who often switch from one job to another, driving down productivity. Second, the gap between industry demand and available skills is widening. More than 56% of employers report difficulty in finding skilled workers. As a result, many employers invest in basic to intermediate training for new recruits, a process that can take weeks, if not months. However, companies prefer a plug-and-play approach, seeking job-ready workers. Larger, legacy companies are better placed as they have invested in developing internal skilling systems over time. But mid-sized and smaller firms, which make up a large share of India's industrial base, struggle to bridge this gap. Third, our existing system disadvantages women. Women have better safety records and deliver higher productivity but they remain significantly under-represented in the manufacturing workforce. Also Read: How a manufacturing boom could help India close the gender gap The transitory nature of contract work, remote locations with lack of mobility and limited support structures are hurdles to female participation. This ecosystem reveals a paradox: Even as manufacturers report difficulty finding skilled workers, large numbers of young Indians remain unemployed. As the economy evolves, shaped by automation and AI, the demand for productivity is rising. How, then, can we shape a new social contract for India's workforce, one that supports the vision of 'Make in India' while ensuring meaningful employment? A critical effort lies in carving a middle path, one that offers greater job security for workers while preserving flexibility and cost competitiveness for businesses. This requires intermediaries that operate the full stack; i.e. manage the entire employment lifecycle: from screening and onboarding to skilling, job matching, compliances and benefit provision. There is a role here for markets, philanthropy and government to come together. We need a public-interest organisation for workforce management at population scale. There is an unmet need of managing the lifecycle of workers. Profits in this domain may be thin or non-existent. Who can shoulder this responsibility in the absence of a viable market? Perhaps the National Skill Development Corporation (NSDC) should go beyond skilling to take end-to-end ownership of worker well-being. Another option could be to build an organisation similar to the National Payments Corporation of India that runs payments. India is the pioneer of Digital Public Infrastructure (DPI), and we can use technology to enable better demand–supply matching, track worker lifecycles and ensure continuity in employment histories and benefits. Interoperable platforms that build on digital credentials could unlock a worker-friendly ecosystem without compromising industry's need for efficiency. Also Read: Time to re-imagine Indian manufacturing from the ground up Second, the industry needs to focus on developing a productive workforce with an eye on worker well-being. A 10% increase in trained workers can boost firm-level productivity by 6%. 'Farming' talent internally rather than 'fishing' for ready-made talent can create a systemic change across industries. We need manufacturing firms to treat workers as a strategic investment. The payoffs in productivity, retention and legacy are significant. Third, tap the potential of women in the manufacturing workforce. Steps to meet women's needs, including gender-friendly mobility, accommodation and childcare support can be promising avenues. Equally important is to change the narrative. Skilling must be made aspirational for women, as a path to employment and a symbol of agency. More than a century ago, Henry Ford said, 'There is only one rule for the industrialist and that is: make the best quality goods possible at the lowest cost possible, paying the highest wages possible." His legacy was not just Ford's Model T motor car, but a system where workers could afford the products they themselves had made. If we can forge this new social contract, where most of India's workers have the safety net of wages and essential benefits, we will finally unlock the potential of 'Make in India.' The author is founder and CEO, Kalpa Impact.
