Budget 2018 set to revolutionise traditional job market in India

Budget 2018 set to revolutionise traditional job market in India

Wednesday February 07, 2018,

2 min Read

With a focus on technology, skill development, and new jobs, India’s job market is on the upswing.

As the government of India crafts India’s first National Employment Policy and announces the scrapping of all jobs lying vacant for five or more years, it signals a positive outlook towards the creation of a more robust job market for India.

With increasing thrust on technology and skills development, India’s job market is on the upswing for FY 2018-19. By 2020, around 600 million people are expected to get deployed in newer job roles that do not exist today.

Our economy is growing at a reasonable pace. As market recovers, the focus on specialised skills will be in demand in near future. There is no doubt that the volume of jobs is being impacted by automation. However, new jobs are also being created.

With increased focus on re-skilling, the traditional job market is undergoing a transformation. India will be the third most optimistic market for skilled candidates. Indian job-seekers can heave a sigh of relief as hiring prospects are expected to rebound.

According to RecruitEX bi-annual reports, internet and disruptive technologies are creating new employment opportunities particularly in the areas of “white-collar” jobs.

The industry’s focus on fresh hires is pre-dominantly around new digital tools and services. As per reports, online labour, software developers, creative and multimedia professionals, online sales and marketing professionals, writers, translators, data entry operators, and more are expected to see a surge in demand.

Announcements in the education sector, with a focus on improving infrastructure and quality, teachers’ training, shifting from blackboards to digital boards, among others, are positive steps towards skill enhancement.

By 2020, the majority workforce in IT, auto, healthcare, banks and financial institutions is expected to work with completely different skill sets.

The future job opportunities will be high in newer skillsets related to data scientists, data mining, artificial intelligence, Internet of Things, etc.

With the current positive outlook for the economy, employers are certain to create more jobs. Large enterprises, medium, and small-scale industries are designed to scale higher and become major job providers.

(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)