The stark reality of India's evolving job market is captured in a single striking statistic: While 83 million jobs globally face extinction in the next five years, 69 million new roles will emerge in their place. This transformation isn't just a number. It represents a fundamental shift in how we think about work, skills and the future of India's workforce. As the world's fastest-growing major economy, India faces a unique challenge. The Economic Survey of 2023-24 indicates that we need to generate approximately 7.85 million jobs annually in the non-farm sector until 2030 to harness our demographic dividend.
The FICCI-EY Future of Jobs 3.0 Report 2024 dives deep into this transformation across five critical sectors: Manufacturing, FMCGs, healthcare, energy and infrastructure, revealing challenges and unprecedented opportunities for India to lead the global digital economy. The report synthesizes macroeconomic trends, global best practices and evolving labour-market dynamics to provide insights into the future of work and reveal how these forces are reshaping traditional industry paradigms. Examining how these trends will influence the job market and what this means for workers, employers and policymakers alike is crucial.
This story is from the January 02, 2025 edition of Mint Bangalore.
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This story is from the January 02, 2025 edition of Mint Bangalore.
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