satyamkapoor

I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First. ...

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I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First.

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By 2022, 9% Indians will be employed in jobs that do not exist today by 2022

By satyamkapoor |Email | Dec 14, 2017 | 11862 Views

As per a report by FICCI-Nasscom & EY, India is expected to see a slowdown in terms of jobs in the next two years. Companies are presently struggling to restructure their business and by 2022, the entire job landscape is expected to dramatically change.

Thanks to emerging technologies, the Indian job landscape is expected to see a seismic shift in the coming years. In fact, 9 percent of India's 600 million estimated work-force is expected to work in jobs that do not even exist today.

Factors like demographics, globalization and exponential technologies will have a significant impact on the job market. 37 percent of the workforce will be employed in jobs that have radically changed skill sets. Moreover, 21 percent of the workforce is going to face an existential threat.

Mr. Anurag Malik, Partner-People & Organization, Advisory Services, EY was quoted saying The adoption of exponential technologies is disrupting industries by creating new markets and India is at the cusp of this change.

Malik further added that once these technologies are embraced, they have the potential to transform some highly unorganized sectors like transportation, food catering, and maintenance of the Indian economy into organized ones.

The report points out that the organized manufacturing and services sector employment should rise from the current 38 million to 46-48 million by 2022. These new forms of employment will add a further 20-25 percent to the organized sector by 2022.  This would help increase the share of the organized sector in the overall economy to 10 percent from the present 8 percent.

EY interacted with more than 130 business leaders, academicians & representatives of industry associations from varying sectors (automotive, textiles, apparel, retail, BFSI) in India for this report.

Source: HOB Team