The Role of Multinational Corporation in Enhancing Skill Development and Promoting Innovations in India: A Critical Analysis

Abstract

With the onset of globalization, MNCs have emerged as significant drivers of economic growth and industrial development in India, bringing innovative technology, managerial knowledge, and best practices from all over the world. This research looks at how multinational corporations help employees improve their abilities through various initiatives and programs. These programs cover a wide range of topics, including technology adoption, quality management, and cross-cultural competency, providing employees with the tools they need to succeed in a globalized work environment. MNCs give employees access to global best practices and help them in their future. Employees benefit from cross-functional teamwork and knowledge exchange, which provide useful insights and experiences that contribute to their professional development. MNCs provide possibilities for professional advancement and continual learning, encouraging employees to pursue higher education, certifications, and specialised training courses that are relevant to their roles. MNCs enable staff to stay up to date on technical breakthroughs and contribute successfully to the organization's success by cultivating a learning and innovation culture. It plays a crucial role in technology transfer and research collaboration, establishing R&D centers and partnering and combination with local industries.