From the perspective of equality of educational opportunity, this study aims to analyze the current trends, issues and prospects of implementing India's national policy on skill development, launched in 2009. This policy has the ambition to increase skilled workers from the current 2% of the total wrokforce to 50%. In other words, India is expected to cultivate 500 million skilled workers by 2022 in order to take advantage of its demographic dividend and be globally competitive. Documentary collection and analysis is the method employed. Both top-down and bottom-up approaches to skill development are found, and a comparison of the two approaches helps map the overall skill ecosystem in India and uncover inequality of educational opportunity. Finally, this study suggests that the Indian government should not only emphasize quantity and scale of skill delivery, but rethink the "what" and "how" of skill training. Also, equal distribution of educational resources and employment opportunities should be seriously taken into account by the government, so as to build up a holistic and sustainable skill ecosystem based on public-private partnership.