The visuals were shocking. Thousands of young women sitting or lying on pavements, railway stations and overbridges across Mumbai. All biding their time for the physical examination of the city police's recruitment drive early last month. Over 1 lakh had applied for 1,257 posts of constables and drivers.
In June, Maharashtra Police received nearly 18 lakh applications for 17,471 junior posts.
In Ankleshwar, Gujarat, headhunters from Thermax, a Pune-based engineering conglomerate, were in for a surprise. Close to 1,000 candidates had queued up to fill just 44 vacancies leading to a stampede-like situation in July.
Something similar was observed in Mumbai's Kalina when Air India Airport Services conducted a recruitment drive on July 16. More than 25,000 people showed up for 2,216 handyman positions, causing a near-stampede.
India's jobs conundrum is a complex, hydra-headed challenge. Not only are the country's youth desperate to get jobs, there are also questions of skills shortage, a fetish for sarkari jobs and policy bungling by successive governments that moved the focus away from manufacturing to services among other pain points.
Plugging the Hole
Union finance minister, Nirmala Sitharaman announced a slew of initiatives while presenting the 2024-25 Budget aimed at tackling issues of skilling and job generation. The schemes, with an outlay of Rs 2 lakh crore for a five-year period, qualify as an acknowledgment of the job crisis, but are not a single solution to the country's biggest issue.
Diese Geschichte stammt aus der September 2024-Ausgabe von Outlook Business.
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Diese Geschichte stammt aus der September 2024-Ausgabe von Outlook Business.
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Scale Stimulus
For technology start-ups, growth funding serves as the catalyst to scale, innovate, expand into new markets and make critical hires. New capital brings strategic value through investor expertise and industry network, customer introductions, helps maintain operational efficiency and mitigate cashflow challenges.The landscape of venture and growth financings in India has undergone a major shift since the pre-Covid era. The pandemic gave rise to a low-interest rate environment which saw an unprecedented inflow of capital into Indian start-ups with a very strong focus on high growth, often at the cost of high burn. Post-pandemic, the environment has seen a significant shift in focus towards sustainable growth, profitability and efficient unit economics.
The Best Valuation Need Not Be the Highest
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GCCS Shaping Start-Ups
The remarkable journey of global capability centres (GCCs) in India continues to set new benchmarks, enriching the nation's economic narrative.
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Start-Ups have Generated 17.28 Lakh Direct Jobs
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On the Road Less Travelled
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Being Local Matters
India's rapidly evolving consumer market, backed by a young, progressive population and a flourishing middle class, is a landscape of opportunity and complex challenges.
CELEBRATING EXCELLENCE: OUTLOOK BUSINESS SPOTLIGHT - ACHIEVERS AWARDS 2024
Recognizing Visionaries Who Inspire Growth, Innovation, and Progress
At the End of the Day, You Bet on Founders
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Time to Go Global
India's defence and space start-up ecosystems have witnessed exponential growth in recent years, with over 1,000 defence and 250 space start-ups driving deep-tech innovation. Government initiatives such as Innovations for Defence Excellence (iDEX), positive indigenisation lists and allocation of 75% of the defence capital budget for domestic procurement, along with support from Indian National Space Promotion and Authorisation Centre (InSpace), have created vast opportunities.
