As the second fastest growing economy in the world today, India has already entered the league of trillion dollar economies. Its GDP is expected to continue growing at about 8% a year till 2022, by which time its population will reach 1.4 billion; 83% of the population increase will be in the 15-59 working age group making India home to 25% of the world's workforce. Known as India's demographic dividend, this development will give India an unrivalled edge in the globalized economy. In the next decade, economic growth is likely to create over 500 million jobs, 75% of which will be skill-based. This will make effective vocational training of critical importance. Sincethe current system provides Technical and Vocational Education and Training (TV ET) toonly 25% of new entrants to the workforce, increasing capacity, improving utilization andenhancing the quality of TV ET is essential to enhancing employability.