Asia is known as an economic success story but for many people growth has not been inclusive. The increased mechanization of work and other trends are likely to deepen existing social inequalities. Skills can help address these challenges, but a new and broader perspective is needed in skills development policy. This article argues that while efforts to improve access and the quality of skills provision need to be revamped, greater attention should be focused on the impact of skills development in terms of improved employment and business outcomes. The extent to which skills are actually utilized and whether workers are rewarded for their skilling efforts are influenced by the context of work. A future skills policy aimed at achieving inclusive growth requires a more integrated perspective of enhancing the skills eco-system (both supply and demand) that goes beyond the traditional boundaries of skills policies.