Sakshi Education
India with US$ 2 trillion economy is poised to become no. 1 economy in the world by 2050, surpassing both USA and China.
The key economic driver in the last three decades is IT/ITES industry with 50% of share in India's GDP. The other key contributors of GDP are manufacturing with 20% share and agriculture with 15% share.
Indian IT/ITES industry with US$125 billion revenue in 2013 -14 financial year is the largest employer with 2.2 millions engineers employed directly and 8 million employed indirectly. Our state share is US $10 billion, employing 4.5 lakh IT professionals directly and 10 lakh people indirectly. IT industry is poised to grow to US$ 250 billion by 2020 creating 8 million new jobs. But the challenge is not employment but it is employability of our engineers.
Big Challenge
India has 1.7 million engineering seats capacity, but only meager 20% of them are employable as per NASSCOM, Mc Kinsey reports, which is a big challenge to all stakeholders i.e., industry, government and education providers. To meet the industry requirements, the companies are exploring new avenues to improve productivity. The recent hiring trend indicate 50% cut in new jobs as 26,000 jobs were created for every US$ 1 billion in 2013 and is reduced to 13,000 in 2014 for the same revenue.
It is estimated that by 2020, 50% of India's 1.4 billion population will be in the productive age of 25 years, hence it will be a much bigger challenge to engage them productively. To achieve this ambitious target, India's GDP should grow at 7.9% per annum. To accomplish this growth Government of India is proposing the following initiatives.
The "Make in India" campaign proposed by the Prime Minister Narendra Modi is giving thrust to manufacturing sector through following activities -
Indian Talent + Information Technology =India Tomorrow
India strength is its democracy, demography, diversity and diaspora.
I, quote- “ultimately the student should have passion to make difference applying thought, driven by values powered by intellect which leads to high performance delivered". Knowledge is future currency and knowledge is not information but it is transformation.
Opportunities and Challenges
India with stable government at centre and at state level poised to grow as a super economic power creating wealth and new jobs to the youth of this great nation.
India strength is its "Democracy - Diversity-Demography-and Diaspora". India has vast qualified human resources but we need qualified work force to meet the global challenges in the context of globalisation.
The promising sectors for the employment in the next decade are Energy, Education, Entertainment, Environment and Entrepreneurship.
Energy: Indian presently produces around 2.4 lakh Megawatts power but still faces blackouts after 67 years of independence and hence huge investments are needed in energy sector to meet the country’s energy needs.
Education: Similarly to increase enrolment in higher education from present 20% to 30% by 2020, Indian has to supplement 800 more universities for the present 350 universities which needs more qualified teachers.
Entertainment: Animation and graphics based movies, e.g. Eega, Robot, Life of Pi, are more successful, cartoon films (pogo, cartoon network) for children are becoming more in demand and hence more jobs in digital animation and graphics.
Environment: Almost 1 billion out 7 billon global population doesn’t have access to potable water and every year 8 million people suffer from water borne diseases. To abate increasing pollution, new laws and investments in new technologies are needed, which will lead to more job opportunities.
Entrepreneurship: India needs more job providers than job seekers. We need more Tatas, Birlas and youth should be inspired by new generation global entrepreneurs like Larry Page and Sergey Brin of Google and Mark Zuckerberg of Facebook to start their enterprises.
At present IT/ITES contribute to 50%, Manufacturing 16% and agriculture 34% of India's GDP. Hence IT/ITES with 3 million workforce at present stand No. 1 in creating new opportunities. Again in IT/ITES, we have product companies like Microsoft, Oracle, Amazon, Facebook, and Google which offer 8 -16 lakhs CTC per annum and they hire only CSE/IT graduates. Whereas IT services companies like Cognizant, Infosys, TCS, Wipro, Accenture &HCL hire graduates from any Engineering discipline but CTC paid is varies from 3.1 to 3.5 lakhs per annum.
Manufacturing Industry with establishment of new NMIZs (National Manufacturing Investment Zones), PCPIRs (Petrochemicals and Petroleum Investment Regions) and new electronic hardware policy is expected to grow from 16% to 25% of GDP by 2020.
Indian IT/ITES industry with US$125 billion revenue in 2013 -14 financial year is the largest employer with 2.2 millions engineers employed directly and 8 million employed indirectly. Our state share is US $10 billion, employing 4.5 lakh IT professionals directly and 10 lakh people indirectly. IT industry is poised to grow to US$ 250 billion by 2020 creating 8 million new jobs. But the challenge is not employment but it is employability of our engineers.
Big Challenge
India has 1.7 million engineering seats capacity, but only meager 20% of them are employable as per NASSCOM, Mc Kinsey reports, which is a big challenge to all stakeholders i.e., industry, government and education providers. To meet the industry requirements, the companies are exploring new avenues to improve productivity. The recent hiring trend indicate 50% cut in new jobs as 26,000 jobs were created for every US$ 1 billion in 2013 and is reduced to 13,000 in 2014 for the same revenue.It is estimated that by 2020, 50% of India's 1.4 billion population will be in the productive age of 25 years, hence it will be a much bigger challenge to engage them productively. To achieve this ambitious target, India's GDP should grow at 7.9% per annum. To accomplish this growth Government of India is proposing the following initiatives.
The "Make in India" campaign proposed by the Prime Minister Narendra Modi is giving thrust to manufacturing sector through following activities -
- New Hardware Policy- By 2020, Global electronic industry is expected to reach US$ 2.4 trillion turnover and India's share will touch US$ 400 billion. Government of India is encouraging new hardware parks to create US$ 300 billion turnover, which will create creating 20 million jobs. Or else Indian Electronic imports will touch US$ 400 billion by 2020 equal to our oil import bill resulting in huge budget deficit.
- Establishing National Manufacturing Investment Zones (NMIZs).
- Establishing Petrol, Chemical, Petrochemical Investment Regions (PCPIRs) -At present World chemical industry is US$ 3.4 trillion and India's share is US$ 108 billion (3% of world chemical business) poised to reach US$ 224 billion by 2017 creating 14,000 jobs in chemical engineering field.
- The new government is also keen to give fillip to infrastructure industry with new reforms in terms of land acquisition and environment clearances. It is proposed to invest US$ 500 billion creating 347 million jobs by 2020 as per National skill Development Corporation (NSDC).
Sun shine industries of the next decade that will offer very good career opportunities are energy, environment, education, entertainment and entrepreneurship.
The industry expectations from the engineering students - Consistent academic performance right from first year of engineering (>65% throughout)
- Absolutely no backlogs
- Doing mini projects right from 2nd semester of 2nd year to understand the application of theory in real time practice.
- Certification courses - Versant, BEC, .net, Java, Microsoft, Oracle, IBM…etc
- Decent Aptitude Skills - Quant, Verbal, Logical etc.
Ref. Website: www.indiabix.com
Ref. Book: R.S. Agarwal (Quantitative, Verbal & Non-Verbal) for Aptitude
- Ability to learn - Updating knowledge with emerging technologies
- Team skills - Advice to participate in GDs, Jam sessions and Debates.
- Participate in Coding Contest: Microsoft Hackcon, Infosys Aspiration 2020(Coding contest), among others
To supplement the above traits, students need to improve - - English communication skills reading, listening, writing and speaking.
I quote "Listening leads to learning, learning leads to linking, linking leads to leaping and leaping to leading".
Suggestion- Reading English newspapers and magazines, participating in JAMS, GD Debates, writing articles in small to major newspapers, magazines, blogs and online forums will help improve your English languages skills
- To be a global citizen adapting to transcontinental environs and diversified cultures - "Think local, be focal, act social, communicate vocal to be a global citizen".
- To be confident -
Suggestion- "being strong in concepts lead to confidence, which leads to better communication, and better communication will in turn lead to competitive edge".
Finally it is collaboration, character and attitude are key differentiators to be successful along with the aforementioned traits and then we can dream India to be the super power of the world.
Indian Talent + Information Technology =India Tomorrow
India strength is its democracy, demography, diversity and diaspora.
I, quote- “ultimately the student should have passion to make difference applying thought, driven by values powered by intellect which leads to high performance delivered". Knowledge is future currency and knowledge is not information but it is transformation.
Opportunities and Challenges
India with stable government at centre and at state level poised to grow as a super economic power creating wealth and new jobs to the youth of this great nation.
India strength is its "Democracy - Diversity-Demography-and Diaspora". India has vast qualified human resources but we need qualified work force to meet the global challenges in the context of globalisation.
The promising sectors for the employment in the next decade are Energy, Education, Entertainment, Environment and Entrepreneurship.
Energy: Indian presently produces around 2.4 lakh Megawatts power but still faces blackouts after 67 years of independence and hence huge investments are needed in energy sector to meet the country’s energy needs.
Education: Similarly to increase enrolment in higher education from present 20% to 30% by 2020, Indian has to supplement 800 more universities for the present 350 universities which needs more qualified teachers.
Entertainment: Animation and graphics based movies, e.g. Eega, Robot, Life of Pi, are more successful, cartoon films (pogo, cartoon network) for children are becoming more in demand and hence more jobs in digital animation and graphics.
Environment: Almost 1 billion out 7 billon global population doesn’t have access to potable water and every year 8 million people suffer from water borne diseases. To abate increasing pollution, new laws and investments in new technologies are needed, which will lead to more job opportunities.
Entrepreneurship: India needs more job providers than job seekers. We need more Tatas, Birlas and youth should be inspired by new generation global entrepreneurs like Larry Page and Sergey Brin of Google and Mark Zuckerberg of Facebook to start their enterprises.
At present IT/ITES contribute to 50%, Manufacturing 16% and agriculture 34% of India's GDP. Hence IT/ITES with 3 million workforce at present stand No. 1 in creating new opportunities. Again in IT/ITES, we have product companies like Microsoft, Oracle, Amazon, Facebook, and Google which offer 8 -16 lakhs CTC per annum and they hire only CSE/IT graduates. Whereas IT services companies like Cognizant, Infosys, TCS, Wipro, Accenture &HCL hire graduates from any Engineering discipline but CTC paid is varies from 3.1 to 3.5 lakhs per annum.
Manufacturing Industry with establishment of new NMIZs (National Manufacturing Investment Zones), PCPIRs (Petrochemicals and Petroleum Investment Regions) and new electronic hardware policy is expected to grow from 16% to 25% of GDP by 2020.
Published date : 15 Dec 2014 05:56PM
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