Equipping India’s talent to future-proof its workforce

India, the world’s largest democracy, faces a unique challenge. While 65% of the country’s population is under 35 years of age – offering immense potential for a dynamic workforce – a significant skill gap presents a major challenge. A recent report says less than 43% of graduates are employable.

Achieving India’s goal of becoming a developed nation by 2047 – its “Viksit Bharat Sankalp” –  depends on the effective education and upskilling of its labor force. Solving this complex challenge needs collaboration across sectors.

As a major employer In India, JPMorganChase has been steadfast in helping support over 100,000 young people develop new skills and access promising career pathways,leading to greater access to skilled talent. Since 2019, employees have completed more than 98,000 volunteer hours in 2023 to help advance this work.

JPMorganChase is also partnering with nonprofits such as Mumbai-based Antarang Foundation and New Delhi-based Quest Alliance to empower young Indians to develop needed skills and experiences to access in-demand careers.

Transforming lives for a thriving young workforce

JPMorganChase’s relationship with Antarang began in 2018, when it supported the nonprofit’s CareerAware program, which equips students with the tools to make informed career decisions. This support was followed by the CareerReady program for at-risk youth ages 18-25.

The bank then backed Antarang’s integrated four-year career model in 2022, for those in Grades 9 to 12 – students at a critical juncture in their education lives. The model addresses two critical dropout points after Grade 10 and Grade 12 by working with individuals defined as Not engaged in Education, Employment, Entrepreneurship, or Technical Training (NEEET) early in their lives by the International Labour Organization (ILO). Nearly 25% of Indians aged 15 - 24 fall in this category.

The support has had a huge impact with as many as 88% of participants now in Education, Employment, Entrepreneurship, or Technical Training (EEET).

“JPMorganChase's multi-faceted support has been instrumental in scaling our programs, leading to a substantial increase in beneficiaries,” says Priya Agrawal, the Founder-Director of Antarang. “To date, our collaborative efforts have enabled over 100,000 students aged 14 to 25 in Mumbai and Goa to access essential career opportunities. This accounts for 27% of the total impact Antarang has achieved in the last 11 years.”

Agrawal said Antarang’s model has evolved significantly, incorporating continuous learning and feedback from stakeholders. “What started with community-based sessions has transitioned into a comprehensive, four-year integrated model designed to address career guidance and readiness in over 1,300 high schools and secondary schools across 24 districts in five states in 2023-24.”

“We are working toward a systems change and trying to build on the fundamentals and bridging the gaps wherever necessary. Our focus is on economic and financial inclusion,” says Maneesha Chadha, Head of Grant Programming, Asia-Pacific, at JPMorganChase.

Towards a more inclusive and productive India

JPMorganChase’s relationship with Quest Alliance – a nonprofit that transforms learning ecosystems to build 21^st century skills – began in 2018.

The bank first aided a small project supporting young women trainees from marginalized communities in Industrial Training Institutes (ITIs), which offer practical, hands-on vocational training in specific trades. Its support helped scale the project from just 15 ITIs in Delhi and the western state of Rajasthan to nearly 80 ITIs across India. 

Up to 67,000 women have benefitted from the initiative, with 45% making immediate career transitions and a further 20% choosing to pursue higher studies.

“JPMorganChase has been deeply invested in strengthening not only our organizational capacity but also the broader upskilling ecosystem,” says Aakash Sethi, CEO of Quest Alliance.

“Their bold approach has enabled us to confidently venture into uncharted territory — which is both rare and critical in driving the kind of systemic change we jointly envision for the upskilling ecosystem in India.”

Learn more about JPMorganChase’s commitment to India.