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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

By 2022, almost one in 10 workers in India will be employed in jobs that do not even exist today. In other words, 1 Out of 10 Jobs in India will Not exist by 2022. Read Here How One in 10 Existing Jobs Will Disappear 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.

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

How Industry Faces the Biggest Challenge in these Changing Times?

The $160 billion Information Technology business process management, or IT/BMP, industry faces the biggest challenge in these changing times: between 20% and 35% of its current employees are at risk of having their jobs wiped out by 2022.

IndustryWorkforce deployed in jobs
that do not exist
Textiles and apparel5%-10%

IndustryWorkforce deployed in jobs with
radically changed skills
Textiles and apparel35%-40%

IndustryWorkforce facing an existential threat
to their jobs (for 2018)
Textiles and apparel15%-20%

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Which Sectors Will Get Affected Most?

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:

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.

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

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

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”. Read here, 1 Out of 10 Jobs in India will Not exist by 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.

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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