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2016- The year of e-commerce and analytics

Dr.T.P.Sethumadhavan


              The year 2016 will witness spectacular growth in education and career in the country. National dream is clean air, clean water and clean India It will bring greater growth opportunities in the context of Make in India, Skill India and Digital India. With the emergence of more number of smart cities education and career sector will exhibit smart growth. India would be one of the 42 countries in the World with increasing hiring rate of un employed youths by 2016. Digitalisation will be the key area which will create more employment opportunities. According to Manpower Employment Outlook Survey hiring will remain positive in all sectors and regions in the country. Transportation, utilities, whole sale and retail trade, finance, insurance and real estate will exhibit spectacular growth during 2016.India will bypass Taiwan(29%), Japan (23%), Turkey(19 %) and United States (17 %) with 42 percent hiring rates. Recent decision to allow Foreign Direct Investment in 15 sectors will create more employment potential in manufacturing and services sectors.

India’s software market will grow by 5.3 billion $ in 2016. Projected growth rate is 12.8 percent. Enterprise resource planning-ERP software will exhibit spectacular growth across the globe. Social, mobile, analytical and cloud services will facilitate growth in software and IT sector; Gartner report says. Increasing adoption of Software as service, Open source software and trends in purchase behaviour and style will create more employment opportunities in India where the country is implementing digital India and Digital business initiatives. Digital India initiative, My Gov citizen portal, career portal, smart cities and start-ups will facilitate the increasing hiring opportunities in the country.

E Commerce market in India may touch 100 $ billion by 2020 from 10 billion $. Whereas in China, it is 450 billion $. According to FICCI and KPMG studies within the next 10 years e commerce market may reach 250 billion $.Number of Smartphone users in the country will touch 350 billion by 2017. Leading e commerce companies like Flipcart and Amazon had increased their expenditure on advertisement by more than 67%.Gubstantially number of internet users will increase during this period with 4G and 5G services. Internet will create immense consumer opportunities in e retailing and e commerce.

Urbanisation is taking place at a faster pace in India. It will create an economy driven by middle class. By 2030, 350 million people will move from rural to urban area and by 2050 it will reach 700 million. It was estimated that by 2025 India’s middle class would drive India’s 50% economy.

India’s start up ecosystem is youngest in the world. Creating better jobs through promoting infrastructure, services and manufacture is the basic objective of innovation summit. It can be done through scaling up of innovation. Compared to previous year with 1.5 lakh IT professionals during 1999 currently this sector has 4 million professionals working and globally it around 150 million during 2015.it contributes 6-7 percent GDP of the country and generates 25% export revenue. Start-up ecosystem is developing in rural, tier-2 and tier-3 cities in India. Innovation will push the frontiers of imagination. Grass root level innovation will solve the problem at the local level. India ranks 76 in the world in gross development index.

Government, academia and industry require new idea and new thinking. Today youth is emerging as creators of job rather than seekers of job. There are ample opportunity for innovation in information technology and Biotechnology. Rapid urbanization is acquiring momentum in the country. Innovation is shaping India. There are different types of innovation. Local innovation is more important. Now the trend is more towards intelligent enterprise, smart system, machine learning and huge data. In India services sector super cedes all other sectors. Now there are no services available in India without ICT or online. Two Billion people in the world are using internet. One Billion people are regularly browsing Face book Power of innovation is getting changed day by day. Banking sector is using more innovation. We have to think of next generation IT solution for 2020. In India contribution of manufacturing sector to GDP is 15 % and in China it is 45%. Manufacturing sector can create 35 % employment opportunities in the country. Make in India- Innovation is more important. Volatility, uncertainty, complexity and ambiguity are the cardinals of innovation.  There are prospects for simple digital technology. Steel, motor vehicles, cement, coal sector will create more employment opportunities. Ease of doing business in USA is 1.6, Germany 1.4 and in China 4.1 and in India it is 6.6.

Emerging trends

World Bank study predicts that India’s GDP is likely to expand at 7.4 percent. McKinsey study predicts that rapid urbanisation is expected to create another 15 metropolitan cities over next decade. By 2025, India’s 69 metropolitan cities, combined with their hinterlands will generate over half its incremental GDP between 2012 and 2025. The report titled India’s Economic Geography in 2025; States, Clusters and Cities, which asserts that granular understanding of India’s market potential and strategies will help companies emerge winners, has identified key economic and business hotspots for the period up to 2025 after analysing 29 Indian States and 7 Union Territories in the Country.

Vision 2030

Federation of Indian chambers of Commerce and industry (FICCI)’s  Education Vision envisages making India a Global hub in higher education would entail liberalizing policies, providing autonomy, promoting transparency with a focus on outcomes rather than merely on inputs. Globally public funding for higher education is shrinking. India has750 Universities, 47000 college and 30 million students with a gross enrolment rate of 21 percent for the age group of 18-23 years. Private sector accounts for 62 percent intake of students, State Governments by 53 percent and Central Government by 3 percent. Demographically India will soon overtake China as the World’s largest population with an average GDP growth of 8 % per annum.

                 By 2030 number of students in the higher education sector will increase from 30 million to 70 million with the GER of 50 percent. It has been forecasted that 23 Universities will reach the top 200 of the World by 2030 and the country will have at least six new Nobel laureates. Share of private sector in education system has grown from 42 percent to 65 percent from 2001 to 2015.Private sector will have 80 % share of the students. According to a study of 50 Nations carried out by Oxford Economics for British Council, by 2020 five lakh overseas students will pursue education in India and two million students pursue education outside India.

Potential areas for 2016

                                              2016 will witness spectacular employment opportunities in E commerce, Innovation, communication, new media, Business analytics, Entrepreneurship, Engineering, IT, cloud services, biosciences, Pharmaceutical industry, Education, Healthcare, Hospitality, FMCG, Retail industry, Agribusiness and Food processing sectors.  Cloud services will continue to generate new jobs worldwide by 2020, and India alone will create over 2 million, predicts International Data Corporation. Pointing out to a strong linkage between cloud, innovation and entrepreneurship, the recent study predicts that most companies look at migration to cloud computing as a way to free up existing resources and work on more innovative projects. In the recent years we have witnessed an unprecedented growth in the world of communication over two million jobs will be generated in the communication, media, manufacturing and banking sectors. Information Security Analysts, Petroleum Engineers, Event managers, Database Administrators, Software Developers, Applications and Systems Software, Logisticians, Web Developers, Physical Therapists, Financial Analysts, Training and Development Specialists, Market Research Analysts, event managers, food scientists and Marketing Specialists are some of  the fastest growing and highest paying jobs for 2016-17.

            Research studies of MAFOI, NASSCOM, ASSOCHAM, CRISIL, Deutsche bank and Hewitt revealed that sectors like energy, infrastructure, project engineering, telecom, ITeS, Financial Services, Insurance, Healthcare, Agribusiness, Manufacturing, Hospitality, Trade, Tourism and transport. Banking, Financial Services, Insurance, Manufacturing and Construction sector will continue to exhibit spectacular growth till 2020.  The Indian IT industry will unleash a major technology initiative with e-governance and Business analytics in the forefront.

                        Energy (Oil, Gas, Coal & Power), infrastructure, telecom, retail, project engineering, biomedical engineering, mechatronics, manufacturing, infrastructure, retail, banking, finance, insurance, management, education, research, hospitality, travel and holistic therapy  will become the potential career sectors during 2016.  India is the third largest country in Telecom sector globally after China and USA. Country’s mobile subscribers will reach 6 % of the world market by 2015.Rural penetration coupled with 4G and 5 G technology and competition will facilitate better career prospects in this sector. By 2017 number of Smartphone users will increase up to 35 Crores and the country will become the world’s second Smartphone user after China.

Banking, Finance and Insurance sector will exhibit robust growth during 2016.Public sector banks are trying to open overseas markets. Some of the potential areas are Asset management, Broking, Investment and Insurance. All Public and private sector banks require skilled professionals in the areas of finance, banking, marketing, Advertising and HRD management. Banking, financial services and insurance and IT-enabled services are not expecting a major increase during the first two quarters. In the Globalised era education, training and Consultancy are some of the key sectors which can drive more employment in the country. Hospitality, Tourism and Travel will become one of the fastest growing segments in the World.

 

Prospective courses

 

STEM courses, Ecommerce,  I commerce, M commerce, Telecom, advertising, visual communication, Defence services, developmental science, software logistics, innovation management, communication management, cloud services, business communication, environmental engineering, marine engineering, petroleum engineering, biomedical engineering, communication engineering, broadcast engineering, nano engineering, audio engineering, food processing, yoga, dietetics, health and wellness, agribusiness, IT, computer science, social networking, new media, HRM, Finance, Insurance, Business analytics, Big data analytics, Technology enabled learning, internet of things, architecture, audiology and speech language, pharmacy, English and foreign language, management are some of the potential courses which can create more employment opportunities in the coming years. With the emergence of make in India, Skill India, Green India, Digital India and mart cities engineering and smart services based courses will facilitate better employment opportunities within the country and abroad. Energy, construction, hospitality, tourism, airline and ICT based courses including innovation and entrepreneurship create umpteen job opportunities.

Biosciences courses will get more research opportunities within the country and abroad. Genomics, connectomics, artificial intelligence, chaos theory, cloud, sound, nanoscience, new carbon energy, quality of life, wireless power, DNA life charts and augmented reality are the emerging areas of science. There will more opportunities in Australia, USA, UK, Canada and European Union. IT services will create more employment in Middle East and Asian countries. Courses related to intellectual property rights, patents, disaster management, climatology, one health, traditional medicine, organic farming. Potential job sectors are aerospace, Nanoscience, life sciences, manufacturing, biomedical science. Innovation will keep the population healthy and create employment opportunities. Sustained innovation will create jobs.

Overseas education

              Indian students travel abroad to study in large numbers, and they have become an important source of international enrolment diversity, research strength and revenue for institutions of higher education across the world, and especially so in countries where English is the national language. Analytics, e commerce, Nanotechnology, Nuclear engineering, Robotics, Vehicle Engineering, Chemical technology, food technology, agro energetics, agriculture mechanical engineering, seaport engineering, Environmental Engineering, Fashion engineering, interaction design and technologies, social media, web technologies and  medicinal chemistry are emerging as the potential sectors abroad.

 

Agriculture and allied sectors

              The joint report by Food and Agriculture Organisation in Rome and the Paris based organisation for Economic Cooperation and Development (OECD) of 34 leading world economies contained price and production forecasts to 2023 revealed that world meat production will have gone up by 58 million tonnes with developing countries making up 80 percent of increase. The biggest gains will be for poultry-50 percent of the total- and pork at 30 percent. In India, dairying is predominantly unorganised and the sector is dependent on rural households for supplies; over 70 million of 147 million households in India depend on dairy for their livelihood. Though India ranks marginally higher than many of the South Asian neighbours in the 2014 UNDP Human Development Reports, the country has fallen behind most of its immediate neighbours on key health and quality of life indicators. Integration of Agriculture sector with industry to implement 5F formula — Farm to Fibre, Fibre to Fabric, Fabric to Fashion, Fabric to Foreign will create more employment for agri, Veterinary science, soil science, food processing and allied graduates in the country.

Make in India

Recent initiative to promote ‘Make in India’ concept will facilitate both industrial and services sectors. Micro, Small and medium enterprises (MSME) will be largely benefited through this decision. As a sequel to globalisation and Free trade agreement services sector supersedes all other sectors. It creates more than 57 percent employment than the basic agricultural and middle industrial sectors. ‘Make in India’ will really benefit the manufacturing sector in the country. It will facilitate foreign direct investment in retail sector rather than inflow of FMCG from abroad. Strengthening of MSME will create more employment opportunities in the country. It will really benefit the engineering students. Vocational and skill development programmes will also acquire momentum in the country. Since the manufacturing will be taking place within the country the industrial growth will be enormous.

Within the services sector, Management, banking, finance and insurance sector will exhibit spectacular growth in the country. The forecast for 2020 was 22 lakh employment opportunities. Automobile, electronics, IT, Electrical, construction, IT, ITeS, Mechanical, Bio medical and agribusiness sectors will exhibit quantum jump in career market. Nanotechnology, Nuclear engineering, Robotics, Vehicle Engineering, Chemical technology, food technology, agro energetics, agriculture mechanical engineering, seaport engineering, Environmental Engineering, Fashion engineering, interior design and technologies, social media and web technologies, medicinal chemistry, etc will become the potential areas which can create more employment in the country.

 

 

 

 

 

 

 

 

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