India has knowledge, not skill: Stagg

NEW DELHI, INDIA: As the country is poised to take a big leap ahead with a billion Internet-enabled population, it has become imperative for the entrepreneurs to develop skills and create innovation.

At TiECon Delhi 2011, Sir Richard Stagg, British High Commissioner, said that skillset play a key role in empowering the individuals to become entrepreneurs.

The Indus Entrepreneurs (TiE) is the world’s largest organization dedicated to the advancement of entrepreneurship. TiE was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region.

“Personal skill development is the single biggest challenge in India. There is huge population with knowledge but skills are highly needed," he believes. Developing the skills for half-a-billion individuals in 10 years is a critical aspect,” Stagg firmly said.

“India should identify the ways so that the outside world could help the country to accomplish this agenda,” he said. Stagg believes that healthcare is another important area. "We need to look at creating the robust delivery system rather than mere building hospitals," he added.

Stagg suggested that India should also look at building infrastructure to the final mile and improve roads to towns and villages where services are required. Governments are providing the right environment and incentives and entrepreneurs should invest energies and money into it, he added.

Citing an example of financial system, Stagg said that banking system in the Western world does not come to rescue economy. Financial institutions should work with investors and facilitate lending for entrepreneurs, he said.