AI is changing jobs in India faster than ever, but professionals are learning the real skill isn't coding -- it's adaptability.
'When I asked whether they would choose a government job that offered Rs 30,000 a month or a private job that offered them Rs 3 lakh a month, without exception, everybody said, "I would rather have the government job!"'
According to the global professional services company, the sharp fall in the value of the rupee against the US dollar in 2013 contributed to reducing labour costs in India.
The churn in Indian labour markets will be led by technology-driven sectors like artificial intelligence and machine learning (38 per cent), followed by data analysts and scientists (33 per cent) and data entry clerks (32 per cent).
'When manufacturing or even services cannot generate the kind of employment they are looking for, they prefer to be unemployed rather than under-employed.'
More than 70 per cent of Indian youth aged between 15 and 29 can't!
This is one of the largest monthly increases in the labour force, observes Mahesh Vyas.
Employment fell by 2.5 million in February, 0.1 million in March, 7.4 million in April and then by 15.3 million in May, explains Mahesh Vyas.
The Economic Survey will remain a documentation of the government's resolve to not recognise the severe stress on the labour markets and on the livelihoods of Indian households arising out of the pandemic and the consequent lockdown, observes Mahesh Vyas.
Labour reforms have been pending in India for long.
Given the rapid changes in the Indian labour market, there is an urgent need to have current, accurate and publicly available data through regular, dynamic and comprehensive surveys. Indeed, this was the intention behind constituting the NITI Aayog Task Force on Improving Employment Data. The attempts by the government to "improve" labour data has actually made it worse, say Rosa Abraham, Janaki Shibu & Rajendran Narayanan.
Over 80% of graduate engineers passing out of universities in India are unemployable. With digitisation going mainstream, this skill deficit can be redressed through world-class training material, points out Ankit Shyamsukha, CEO, ICA Edu Skill.
Indeed has seen an increase in listings for drivers, food delivery runners, and other service providers.
Poor quality of employment in India has led to a mismatch in expectations and availability of jobs forcing the skilled manpower to explore opportunities abroad, five leading international think tanks have said.
Both have made factory jobs the centre of their economic agendas. Kanika Datta explains the practical limits to their ambitions.
Gender continues to play a significant role.
Service sector and employees alike are embracing the gig economy in India.
To the extent that body shopping is replaced by true offshoring, everyone is better off, says Ajay Shah.
The elements are all aligned to make India a global powerhouse, says IMF Managing Director Christine Lagarde.
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