Are we lacking in skills or is it that there are no jobs or we are not creating enough jobs for all the people to employ?

I think it is the chicken and egg problem and the only way to solve the chicken and egg problem is to become vegetarian, do something different. So, I think the demand side will always be a constraint and so will the supply side. I don't think that demand and supply will ever match each other so we have to do a lot of economic reform to raise the demand side. For India, specifically, it is to be more formalised, industrialised, urbanised, financialised and skilled. But on the supply side, it is to fix our government schools. 45% of our children go to government schools. My sense is, we have to fix government schools which are performance management. We have to have much more biodiversity in University education. I don't think in a country like India, you can have one size fits all. So I think that allowing biodiversity of operating  models, allowing biodiversity of financing is something that the UGC model doesn't allow. I think that a new regulatory regime will be coming in higher education and that will allow a lot more entrepreneurs in India to change the adverse selection in education  entrepreneurship. So, my sense is that the decline of college is a global phenomena in India because of resources that were hijacked by the wrong kind of entrepreneurs but this crisis will also lead to education reforms in ways.

Manish Sabharwal,
Chairman and Co-Founder of Teamlease Services, India’s largest people supply chain and HR services company