India is one of the fastest growing major economies and has a burgeoning young workforce. The average age in India will be 29 years by 2020. Given the limitations of absorbing growing labor force-- especially the unskilled and semi-skilled-- in service sector, focus has to be on spurring manufacturing growth to take advantage of this large pool of…

Governments in advanced liberal democracies have assigned Vocational Education and Training (VET) a critical role in preparing a productive workforce for the broader economy. This linkage opens the way to use economic theories to expand the understanding of VET. Noted economic theorists have described the use of one economic reductionist technique…

In this era of global competition, human resources will play a decisive role in the battle for efficiency and competitive advantage, where nations and organisations with superior and quality-oriented human capital will soon outperform those with inefficient and quantity-oriented labour force. Rate of human capital formation will be more important…