FICCIs organises 11th Global Skills Summit on future job market in 2022

NEW DELHI, SEPTEMBER 15: FICCI’s 11th Global Skills Summit witnessed discussions on the future job market in 2022’s India. It will be shaped by the country’s response to the inevitable impact created by the interplay of three primary forces - Digital Economy, Industry 4.0 and Exponential Technologies by Indian industries.

Industry bodies such as FICCI, NASSCOM, and business research firm, E&Y had collectively published the “Future of Jobs" report in 2017.

This report provides a vision of change for the India’s job market in the imminent few years to come. It takes the view that diverse primary forces such as globalization, changing demographics, and, what is being called, ‘Industry 4.0’, are expected to have significant impacts on key sectors of the economy. It also provides a bird’s eye-view of projected job creation rates at 9% new jobs and 37% existing jobs that would have radically changed skill sets in the near future.

“Instead of viewing the provision of employment as a challenge for its 15 million youth reaching the age when they ought to be joining the workforce each year India could leverage new and innovative skills by adoption of exponential technologies in existing industries such as finance, logistics and many others with AI, IOT, Big Data, Cloud Computing and so on. Policymakers and industry champions together can ramp up infrastructure and convergence of IT and financial skills, for example, to provide sustainable livelihoods through institutional training. More rozgar melas and robust monitoring must be performed to achieve the PMKVY’s goal of benefitting 10 million youth by 2020. The Standard Training Assessment and Reward scheme must be strictly adhered to and obtain uniformity and industry relevance. Youth can also find self-employment through entrepreneurship by seeking out sources of demand. The best way to achieve that is by seeking out a big problem to find the big opportunity”, says Dr. Narendra Shyamsukha, Founder and Chairman of ICA Edu Skills.