Will the hitech manufacturing sector reverse the slump in the job market?
US-India Strategic and Partnership Forum (USISPF), in a report, has said that the high-tech sector has the potential to create 5.50 lakh direct and 14 lakh indirect jobs in the next five years.
Hi-tech sectors comprise the electronics, aviation and the medical devices and they have the potential to attract an additional investment of $21 billion and create about 20 lakh direct and indirect jobs, USISPF president Mukesh Aghi was quoted in a media report as saying.
India’s share in global production around these domains is roughly around three per cent. But the contribution to the global output could increase multiple times through a robust supply ecosystem, cut in logistics cost and enabling regulatory policies. A pool of skilled workforce can complement and supplement the growth, USISPF said.
ManpowerGroup:
ManpowerGroup, a fortune 500 American multinational, in its Employment Outlook for India has said that while the general sentiment remains sluggish in the market, 20 per cent of the employers believe there would be significant hiring in the fourth quarter (Jan-March 2020).
The forecast could come as music to the ears of potential job seekers and graduates. This is because several IITs and IIMs have come out with a gloom scenario outlook as the placement season begins from October end.
The ManpowerGroup report said that within India, the strongest labour market is anticipated in the eastern parts, where the net employment outlook is 38 per cent, that reflects robust hiring prospects, the report said.
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