New Delhi (India), 1st May 2023: According to a recent World Economic Forum (WEF) report, the Indian job market is expected to rise by 22% over the next five years. According to the survey, key positions will emerge in the artificial intelligence (AI), machine learning, and data areas.
According to the World Economic Forum’s latest Future of Jobs report, 69 million new jobs are predicted to be generated globally over the next five years. However, according to the analysis, around 83 million jobs will be lost by 2027.
The WEF said, “Almost a quarter of jobs (23 per cent) are expected to change in the next five years through growth of 10.2 per cent and decline of 12.3 per cent (globally).”
In terms of India, the survey estimates that 61% of enterprises believe that greater applications of ESG (environment, social, and governance) standards will boost employment creation, followed by increasing adoption of new technologies (59%), and improved digital access (55%).
AI (artificial intelligence) and machine learning specialists, as well as data analysts and scientists, would be the top professions for industry transformation in India, according to the report.
Also the survey stated that, the manufacturing and oil and gas sectors have the highest degree of green skill intensity globally, with India, the United States, and Finland topping the list for the oil and gas sector.
Furthermore, when comparing countries’ perspectives on talent availability while hiring, more populous economies such as India and China were more positive than the global average.
On the other hand, India was one of the seven countries where job growth for social jobs was slower than for non-social jobs.
Education and agriculture will have the greatest absolute job growth. According to the report, job growth in the education industry is predicted to be over 10%, resulting in 3 million more positions for vocational education teachers and university and higher education professors.
Jobs for agricultural specialists, particularly agricultural machine operators, graders, and sorters, are predicted to expand by 15-30%, creating an additional 4 million jobs.
