The Big Fight: High On Growth, Low On Jobs?

PUBLISHED ON: June 10, 2017 | Duration: 52 min, 41 sec

   
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The world is in a state of flux - more so if you are entering the job market. With artificial intelligence, robotics, automation eating away low-skilled, vocational jobs what are millions of people who enter the job market every year going to do? The China model of mass manufacturing and export cannot be replicated anymore in today's world. Are start-ups the way out? Perhaps. But, only if you are a skilled worker. For all the semi-skilled or unskilled workers, the situation is really problematic. Will they depend on government doles for day-to-day existence? The Modi government had placed a lot of emphasis on skill development but the lack of a strong education base and low industry demand is affecting their prospect. The industry, while admitting the changing scenario, is looking for niche skills - nano technologists, experts on robotics, high-end researchers, experienced managers in assembly line production but our education sector has been unable to keep pace with the changing demand. According to an Ernst & Young and FICCI study, over 80 percent of India's engineering graduates and around 90 percent of MBAs are unemployable. It's high time that we completely overhauled our education system. But in the short run, people have to be flexible enough to re-skill themselves and look for work in SMEs or be ready to tread the path of entrepreneurship.
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