New Delhi: According to a FICCI-NASSCOM & EY- Future of Jobs- report, by 2022, 37% of the Indian workforce would be employed in new job roles.
The new forms of employment would include:
• Contract employees in infrastructure sector
• Micro entrepreneurs supported by MUDRA schemes
• Employer-entrepreneurs in technology enabled employment models
• Freelance workers on online platform models
• “Uber” workers
• SME and artisan entrepreneurs on ecommerce platforms
• Delivery workers and service providers in the ecommerce ecosystem
• Employees in tech start-ups.
The report also says that 9% of India’s 600 million estimated workforce would be deployed in new jobs that do not exist today, 55%-60% in BFSI and 50%-55% in the automotive sector.
Primary forces such as Globalisation, demographics, and Industry 4.0/exponential technologies, are expected to have impact on the key sectors of the economy.
According to the report, in 2022, the future of jobs would be determined by the country’s response to 12 megatrends which includes:
i) the level of exports of India based companies
ii) rapid adoption of exponential technologies in the advanced markets and its impact on offshoring
iii) increasing/shrinking overseas job market for Indian workforce and iv) level of FDI flows.
Under adoption of exponential technologies by Indian companies:
i) business innovation
ii) creation of highly optimized supply chains
iii) launch of smart connected products/services
iv) new work arrangements
v) The demand for resourceful planet and sustainability.
Lastly, under demographic changes:
i) increasing urbanization
ii) rising middle-class
iii) High proportion of young population including millennials.
Mr. R. Chandrasekhar, President, NASSCOM, said, “The report attempts to present a 2022 picture – a time when no one can afford to ‘rest on one’s laurels’ but needs a continuous learning culture. Another important fact being seen is that non-tech firms are increasingly emerging as the source of information technology roles; for e.g. automotive, aerospace, BFSI, telecom, retail, healthcare, etc.”