India is the world’s fourth-largest economy. It produced $9.4 trillion in goods and services despite the great recession in 2017. It grew between 5% – 11% from 2008 to 2014.This remarkable growth rate has reduced poverty by 10% in the last decade. India has a mixed economy and it is visibly changing. On Jan 22, 2018, in an interview, Prime Minister Narendra Modi said that an “independent agency” had found that 70 lakh employees’ Provident fund organization (EPFO) 70 lakh accounts were opened for persons aged 18-25 years. “Doesn’t this show new employment” he asked? Job creation is one of the spotlights in budget 2018. The government has proposed to increase budgetary expenditure on infrastructure, rural development, and agriculture and health care sectors.So let’s have a look at the Jobs in India.
IT Sector: One of the fastest growing sectors in India is the IT sector. It is the third largest in the world and second largest among the emerging economies of Asia. India has become one of the major exporters of the software services within the last years, and around two third of worldwide off shore IT companies are based in India. According to software services industry body NASSCOM the exports would be $137 billion in 2018-19 as against $126 billion in 2017-18 due to which the industry is expecting to add one lakh jobs in 2018-19. India is heading towards becoming Global digital hub by introducing new government schemes like mission digital India.
Agriculture Sector: India, being an agrarian economy, more than 50% of the population depends directly or indirectly on agriculture. Indian agriculture accounts for 18% of India’s GDP and provide employment to half of the population of the country. Some are directly attached with the farming and some are involved in doing business with these goods. Economic surveys that with growing rural to urban migration of men, there is ‘feminization of agriculture sector’. Globally, there is a factual evidence that an increasing number of women in multiple roles as cultivators, entrepreneurs and Laboure are ensuring and preserving agro biodiversity. Buttoday agriculture is not creating jobs anymore; in fact, it is shedding jobs. Thus, incoming job seekers have to be absorbed by the non-agricultural working class.
Infrastructure Sector: Nearly all the infrastructure sectors present excellent opportunities with roads and highways, ports and airports, railways and power standing out as particular bright spots. Public private partnership (PPP) like that of Delhi Metro or Namma Metro are gaining importance and are benefited from government support.
Health Care Sector: Health care has become one of India’s largest sectors both in terms of revenue and employment. Health care comprises hospitals, medical devices, outsourcing, health insurance and medical tourism. The Indian health care sector is growing at a brisk pace due to its strengthening coverage and increasing expenditure by public and private players. There is significant scope for enhancing the health care services considering that healthcare spending as GDP is rising. Rural India, which accounts for 70% of population, is set to emerge as potential demand source. The NITI Aayog (National Institute for Transforming India) seeks to bring reforms in public health care system by promoting competition between government and private hospitals at the secondary level.India is a land full of opportunities for people in the medical sector in the country.
- The government should bring in policies, which make the access to skill training programs easier to business minded people along with access to easy capital.
- The challenge is not only to give employment to large aspiring youth but to provide secure type of employment.
- In order to have healthy and sustainable future firms should not over use the machines while rejecting the human skills.
- Better infrastructure, with affordable housing in the urban areas, and large integration with global markets were the top priorities to strengthen the relationship between GDP growth and Job creation.
- Vast opportunities should be created in health care industry in both rural and urban India.
In nutshell, Jobs in India or the Indian job market is going through optimistic growth phase, which is here to stay, and good times are ahead for job seekers.