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1 Out of 10 Jobs in India will Not exist by 2022 – Read How?

1 Out of 10 Jobs in India will Not exist by 2022

Because of Globalization, demographic changes and the adoption of Industry 4.0 exponential technologies, 1 Out of 10 jobs in India will not exist by 2022. These three factors will change the job scenario in India in 2022.

The report, titled ‘Future of Jobs in India’, provides an overview of the job creation rates across various sectors and the new jobs that will emerge in the coming years. It looks into five sectors in detail: IT/ITeS, retail, financial services, textile & apparel and auto.

1 Out of 10 Jobs in India will Not exist by 2022

Sayings Of Famous Persons

According to the report of Sanjaya Baru, Secretary General, FICCI, “there is no India-based empirical study on key manufacturing and services sectors which create the bulk of jobs and contributes majorly towards GDP”.

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”

Anurag Malik, Partner – People &Organization, Advisory Services, EY, said, “The adoption of exponential technologies is disrupting industries by creating new markets and India is at the cusp of this change.”

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Which Sectors Will Get Affected?

Business models will undergo a significant change leading to a significant impact on the skills and capabilities needed to be successful in this sector. On the other hand, sectors such as apparel, textile and leather won’t be affected much in the short run.

Around 9% candidates will be working in the jobs that do not exist today and 37% will be in jobs that have radically changed skill sets. Also, 54% will come under the unchanged job category.

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More Information Related To Job Scenario In 2022

The future of jobs in 2022 would be determined by the country’s response to 12 megatrends captured by the EY framework, which includes, under globalization –

  • the level of exports of India based companies,
  • rapid adoption of exponential technologies in the advanced markets and its impact on off shoring,
  • increasing/shrinking overseas job market for Indian workforce and
  • Level of FDI flows

In the organized manufacturing and service sector, the employment is expected to increase from the current 38 million to 46-48 million by 2022. All the new forms of employment are expected to add a further 20 per cent- 25 per cent to the workforce of the current defined “organized” sector in 2022.

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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 e-commerce platforms,
  • Delivery workers and service providers in the ecommerce ecosystem
  • Employees in tech start-up

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All the new forms of employment are likely to add a further 20-25 per cent to the ‘organized’ sector by 2022 and this would increase the share of the organised sector in the overall economy to 10 per cent from 8 per cent at present, around 60 million in a workforce of 600 million, it noted.

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