The India Employment Outlook 2030: Navigating Sectoral Trends and Competencies report by the Observer Research Foundation-ORF propagated Bharat is set to witness a substantial 22 per cent increase in overall employment by 2028, accompanied by a notable decline in unemployment rates by 97 basis points.
The report highlights the service sector as the primary driver of this employment surge, with every unit rise in services output contributing to a 0.12 per cent increase in employment. It mentioned the pivotal role of the service industry as Bharat progresses towards its USD 5 trillion economic milestone.
Delving into specific sub-sectors within the service domain, the report identifies ten high-opportunity areas primed for rapid growth, including digital services, financial services, healthcare, and hospitality, among others. It also accentuated the significant employment potential for women within the burgeoning service sector, advocating for targeted investments in women’s skilling and entrepreneurship to foster inclusive economic growth.
However, the report paints a less optimistic picture for Bharat’s manufacturing sector, which has witnessed a decline in employment attributed to technological advancements and increased automation. To tackle this challenge, the report suggests a shift towards industrial value chains associated with the service sector to rejuvenate employment opportunities.
ORF Director and report author Nilanjan Ghosh stressed on the importance of collaborative efforts between policymakers, public sector schemes, and other stakeholders to address employability and skilling gaps. He asserted on the need for curriculum upgrades to ensure Bharat’s talent pool is equipped for industry demands.
Furthermore, Ghosh highlighted the transformative potential of entrepreneurship in driving future employment growth and expanding innovation. He emphasised on the importance of gender sensitivity and inclusivity in future workplaces, advocating for an environment that promotes youth participation and innovation.
