Job Market Seesaw: Japan Will Hire 40k Indian Engineers; Tourism Will Create 4.6 Cr Jobs, But Automation To Wipe Away 70 Lakh Textile Jobs
There is both positive and negative news for Indian job-seekers. The volatile see-saw pattern in Indian jobs was witnessed prominently as mixed news came in from different quarters.
But first, the positive news.
More Hiring, Even More Jobs In India!
Impressed by the online question paper delivery used by Visvesvaraya Technological University (VTU), Japan is all set to hire 40,000 engineers from Karnataka. Last week, around 10 officials from Silver Peak, a Japanese firm visited the University and assessed the engineers.
As per reports, an MoU has also been signed between VTU and Japan for hiring engineers. Starting December, Japanese firms will line up the campus of VTU and start the hiring process in different stages.
The candidates would be provided one year training in Japan, and reportedly, understanding Japanese language is a necessary criteria for getting hired. It was also revealed that 4 lakh nurses would be hired for taking care of old age Japanese nationals.
This would be a huge relief to educationists, who were worried after it was found that 97% of Indian engineers can’t speak English and 80% are unfit for software & IT jobs.
Tourism Sector, the Big Job Spinner
In another news, US Ambassador to India, Richard Varma has said that tourism industry in India has the potential to create whooping 4.6 crore jobs by 2025.
While speaking at Indo-American Chamber of Commerce (IACC) on the theme ‘Travel and Tourism (which was conducted to discuss ways to increase India-US trade relations to $500 billion), Varma said, “If the right investments are made, tourism has the potential to support 46 million jobs in India by 2025. India’s tourism industry is growing, but it has the potential to grow even faster if the right investments and policies continue to be implemented,”
As per World Travel and Tourism Council (WTTC), tourism sector in India generated 3.7 crore jobs in India in 2015, and contributed 6.3% to India’s GDP which is apprx. $120 billion.
And, Ikea has planned to open 25 stores across India, which is expected to generate 15,000 jobs pan-India. This is excluding 37,000 indirect jobs which these 25 stores would generate. Hiring is already on Hyderabad, Mumbai and Bengaluru.
And now, the negative news.
Automation Will Wipe Out 70 Lakh Textile Jobs
As per a joint study conducted by Texprocil and EY, it was found that textile industry in India will create only 29 lakh jobs in the next 5 years; which is 71 lakh than what Govt. of India had planned.
And automation is the primary reason for such massive cut in textile jobs.
The report said, “As textile and apparel industry is moving towards automation, the industry is unlikely to create more jobs along with the growth in the industry. The expected job creation in the domestic textile and apparel sector would be 29 lakh in the next 5 years,”
And the interesting thing is that, the overall industry is growing at a pace. In the next 5 years, the overall textile industry will grow by 40% to touch $142 billion.
Govt. recently announced that to create more jobs, they will provide Rs 6000 crore to textile industry under various social packages. Govt.’s aim was to generate 1 crore new jobs by 2025.
But the report said that due to advancement in technology, less people are required for the same job. For an investment of Rs 1 cr, there used to be 40 workers employed, which will go down to 25 workers by 2020.
As per various researches, automation is killing more jobs than an epidemic. 50% of all IT jobs in India are under danger of getting vanished even as IT firms are now hiring less and less employees. In China, Foxconn recently fired 60,000 employees due to automation.