Automation Replacing Human Workers
The single major issue that is worrying governments all over the world is to provide employment or jobs to ever-increasing workforce that is being added every year. The global economy is growing around 3 percent per annum without any appreciable increase in the number of jobs. The Indian Gross Domestic Product (GDP) is clocking between 7 to 8 percent annually during last few years yet employment growth is meagre.
One of the main reasons for the jobless growth is due to the impact of technologies that is increasing efficiencies by automating many routine tasks that were done by human workers. Several existing industries are becoming obsolete as new ones are being established.
Indian IT Industry Created Jobs
One of the positive things that happened in India during last three decades is the dawn of Information Technology (IT) industry. It is unique and unparalleled in history since a developing country has excelled in high technology industry to meet the needs of advanced countries. The Indian IT industry created employment in India to meet the demands outside the country. Most of the IT companies were set up in metros and Tier 1 cities due to infrastructure requirements.
The Indian IT industry has created about four million direct jobs and three times that number in indirect employment. Its revenue for last fiscal year is estimated to be USD 180 Billion contributing to nearly seven percent of national GDP.
Disruption by Digital Technologies
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