An alarming report has emerged that suggests that by 2040, India will see a decline in job availability, mostly due to automation, by a staggering margin of 69 percent, as the country is set to add a young working force of close to 160 million new workers over the course of the next 20 years. This comes at a time when it is assumed that the country’s job crisis situation is getting worse with each passing day. By 2040, India’s working population would total 1.1 billion people, with an average age of just 38.
In contrast to Europe and North America, the working populations in the five largest economies—India, China, South Korea, Australia, and Japan—are more at danger of a job shortage caused by automation, according to Forrester’s “Future of Jobs Forecast” research. Another crucial point was that, in addition to the 247 million jobs in sectors like construction and agriculture that are more susceptible to automation, it is difficult to prevent the loss of 63 million jobs due to automation.
Even though the five largest economies hope to add 28.5 million new jobs by 2040 in fields like professional services, smart infrastructure, and renewable energy, at a time when robot use is being experimented with even in delicate ones like the medical sciences, it is estimated that 13.7 million jobs in the wholesale, transportation, and leisure sectors will undoubtedly suffer the most.The fundamental issue here is that, while China and Japan’s working populations are predicted to decline by 11% and 19%, respectively, by 2040, India will experience an unstoppable force at the same time.
The five biggest economies in the Asia Pacific area will need to dramatically rethink their labour strategy in order to be ready for the changes brought on by technology, according to Michael O’Grady, principal forecast analyst at Forrester. According to the report, certain actions need to be taken right away if we want to start preparing for the future. These actions include promoting STEM (Science, Technology, Engineering, and Mathematics) education, concentrating on workforce training in the technology sector, and defending the legal rights of independent contractors, which are a significant grey area, particularly in the Indian employment sector.
By Bidisha Mohanty
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?