Answering a divisive question, the ‘Future of Jobs in India: A 2022 Perspective’ by Nasscom, Ficci, and EY reveals that the future of jobs will be determined by the country’s response to the inevitable impact created by the interplay of three primary forces globalization, demographic changes and the adoption of Industry 4.0/exponential technologies by Indian industries
A lot has been said and written about how jobs will look like in the near future, but most reports and surveys tend to stick to global perspectives. There is a dearth of reliable and valid research works that study the future of jobs in the Indian context, with the country’s unique advantages and challenges. However, the ‘Future of Jobs in India: A 2022 Perspective’ report, put together by NASSCOM, FICCI, and EY dives deep into gauging the scale of the impending change and establishing its causes and effects while answering questions about the future of jobs, workforce, and skills in India.
Drivers of Change
The report notes that over the past few years, a slowdown in the employment in core sectors alongside the concurrent emergence of new engines in job creation has reshaped the Indian job market. This evolution will continue for coming years, and the report identifies three main drivers of change that will determine how we work tomorrow. “The future of jobs in 2022 in India will be determined by the country’s response to the inevitable impact created by the interplay of three primary forces — globalization, demographic changes, and the adoption of Industry 4.0/exponential technologies by the Indian industries. The impact of these three primary forces is expected to be disruptive on sectors such as IT-BPM and BFSI and relatively lower on core manufacturing sectors such as apparel and leather.” The framework of these three evolving forces can be used to make the best sense of the future. These three megatrends have been further broken down into 12 key trends, which have been extensively studied individually. They also serve as handy indicators and parameters to evaluate the scale of impact they can impose on a bigger level:
This story is from the People Matters - May 2018 edition of People Matters.
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This story is from the People Matters - May 2018 edition of People Matters.
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