New Avenues


Technology, FDI, Services and Entrepreneurship will fuel employment opportunities

Dr.T.P.Sethumadhavan

 At a time when Government of India is struggling to avoid economic recession in the country, technology, foreign direct investment, services and retail sectors will facilitate to maintain an average level of economic growth and employment opportunities in the country. Connectivity driven sectors, food processing, entrepreneurship, digital marketing, banking & finance, cloud services, analytics, management and innovation driven sectors will facilitate spectacular growth in the country. Courses related to these sectors will generate more employment in the coming years.  

                     Government of India’s 5G committee to prepare a roadmap for next generation connectivity and telecommunication technology by 2020 suggested that 5G will facilitate umpteen opportunities in research and product development by 2020. It will provide a platform for the government to deliver 10000 megabit per second data speeds in urban areas and 1000 Mbps data speed in rural areas. According to OECD (Organisation for economic co-operation and development Committee) on digital economic policy, 5G technologies will help in increasing GDP, creating employment and digitalising the economy. It will strengthen domestic telecommunication equipment manufacturing which helps the local manufacturers to capture 50 percent of the Indian market and 10 percent of the global market over the next 5-7 years.

In the era of services and globalisation, innovation, execution and social responsibility are acquiring momentum across the globe. Huge opportunities are emerging in cutting edge technologies like analytics, cloud services, internet of things, artificial intelligence, augmented reality, fintech, media and digital marketing.
Banking and finance services, consulting and development management, digital marketing, equity research and portfolio management, innovation and entrepreneurship, IT Analytics, Marketing research &Analytics, Media & Entertainment management, Sales and Services management and operations & supply chain management.
Recent global retail development index reveals that India has replaced China in retail businesses as the top retail destination. Increased consumer spending, rising mobile and internet penetration, increasing foreign direct investment, digitalisation and GST facilitated this growth. Food as well as retail brands such as Korres, Migato, Evisu, Wall Street English, Pasta, Mania, Lush Addiction, Melting Pot, Yoghurt Lab and Monnalisa are expected to invest 300-500 million US dollars to open 2500-3000 stores.
At a time when cloud computing is acquiring momentum across the world, Google will establish Cloud region at Mumbai which will offer services such as computing, big data, storage and networking. Data science will emerge as one of the key areas to generate employment in the coming years. Cloud region will address the issue of internet for every Indian irrespective of the nature of requirement.
Corporate Social responsibility funding could touch 14000 Crore Rupees in India by 2018. It will benefit education sector compared to other services sectors in the country. But recently Asia Development Bank projected a fall in India’s GDP growth for 2017-18 from 7.4 tom7 percent indicating a slowdown in private consumption, manufacturing output and business development.  It has been suggested that strong global growth and improved business ecosystem will facilitate to grow the export growth at a faster pace in the coming years.
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