Importance of Commerce As A Subject

Education News | Jan-29-2021

Importance of Commerce As A Subject

In the post-independence era and wake of industrialization, Commerce education is emerging together of the foremost budding and potential pursuits. Most of the Education Commissions that have explored education within the post-independence era have held commerce education to supply students with in-depth knowledge of business and its different functional areas. This prepares students to fulfill the requirements of the community for industry, commerce, and trade purposes.

In the students’ community, commerce education has achieved a high position and importance in India. This will be proved by the very fact that from 0.36 lakh enrollments in 1950-51 in commerce courses, the enrollments reached over 20 lakh at the present with a considerable share of 49% of total students during this sector. This percentage was 17.1% in 1975 and 25% in 2005.
Commerce education helps support the increasing needs of business houses. it's been developed to supply aids to the growing manpower needs in thousands of business enterprises. Commerce education equips students with specialized skills that come useful in tackling problems in several functional areas of commerce, industry, and trade.

The skilled manpower supply is indispensable for the expansion of a business. Commerce education features a crucial role in today’s dynamic business environment. The rapidly changing trends of privatization, globalization, and implementation of technology have made it tough for organizations to survive the competition within the business world. Consequently, the demand for Commerce education has increased many folds. Business executives got to be trained to update and adapt their skills quickly as per the sudden changes within the external environment.

By: Raghav Saxena

Birla School, Pilani