At a time when India’s job crisis is expected to worsen by the day, an alarming report has emerged indicating that by 2040, the country will see a 69 percent decline in job availability, primarily due to automation, as India is set to add a young working force of close to 160 million new workers over the next 20 years. Overall, India would have 1.1 billion working people by 2040, with an average age of 38.According to Forrester’s ‘Future of Jobs Forecast,’ there are some key indicators of an automation-induced job crunch, including the fact that, when compared to Europe and North America, working populations in the five largest economies, which include India, China, South Korea, Australia, and Japan, are more vulnerable. Another crucial point was that while it is hard to preserve 63 million jobs from automation, another 247 million jobs in areas prone to automation, such as construction and agriculture, face a similar threat.Despite the fact that the five largest economies aim to create 28.5 million new jobs by 2040 in emerging sectors such as renewable energy, smart infrastructure, and professional services, at a time when the use of robots is being tested even in sensitive sectors such as medical sciences, it is estimated that 13.7 million jobs will bear the brunt across wholesale, transportation, and leisure industries. The key problem here is that, whereas China and Japan’s working populations are predicted to decline by 11% and 19%, respectively, by 2040, India, on the other hand, will be a force beyond control at the same time.”To prepare for the changes brought about by automation, the Asia Pacific region’s five main economies would need to fundamentally rethink its labour strategy,” said Michael O’Grady, principal forecast analyst at Forrester. Certain measures that must be implemented immediately, according to the report, if we are to prepare for the future include promoting and focusing on STEM (Science, Technology, Engineering, and Mathematics) education, technology workforce training, and protecting the rights of freelance workers, which is a huge grey area, particularly in the Indian labour market.
By Subhechcha Ganguly