7 lakh IT jobs to be created in 2006
Out of 10.3 lakh jobs projected to be created in 2006, the IT sector will account for over 7,00,000 jobs.
By TNN |
CHENNAI: Continued buoyancy in the Indian economy has translated into a surge in the organised labour market, with the dynamism expected to be sustained throughout the year. The Ma Foi Employment Survey has pegged the new number of jobs in ’06 at 10.3 lakh plus.
The IT and ITES sector will account for over 7,00,000 jobs, with the sector attracting people from other industries. The BFSI sector, which is becoming stagnant, is expected to shed about 1.3 lakh jobs, with people crossing over to other verticals, said Ma Foi managing director Pandia Rajan. The services sector is expected to account for more than 3.8 lakh jobs, while mining is expected to lose a little over 7,000 jobs.
But these numbers do not reveal the real picture. Annually, around 86 lakh people are joining the employment market, with many remaining untracked. Tracking those organisations that employ less than 30 people will help present a more rounded view of the market. Those engaging less than 30 are not required to disclose certain statistics, though, Mr Rajan said. The organised sector, in reality, is much bigger.
While the definition of the organised sector should be broadened, the unorganised sector can not be wished away. A genuine legislation, low on reservation and high on regulation, is needed to set up institutes, which will train manpower in the unorganised sector to make them employable. “In the next three years, over 10 lakh jobs can be created in the unorganised sector by way of flexi-staffing,” he added. For every person employed in mega corporations like Unilever or ITC, 2.5 people are doing the work in the unorganised sector, he said.
Last year, 4.25 lakh people went overseas, and the new liberalisation phase could witness a 5-6% increase in this number. And corrections in the immigration laws can easily turn this into a million, he noted. L&T’s executive director and head of construction division, KV Rangaswami, said the construction sector is the biggest employer after agriculture.
There are over 60,000 construction workers and employment in the sector has been growing 13% annually.
The IT and ITES sector will account for over 7,00,000 jobs, with the sector attracting people from other industries. The BFSI sector, which is becoming stagnant, is expected to shed about 1.3 lakh jobs, with people crossing over to other verticals, said Ma Foi managing director Pandia Rajan. The services sector is expected to account for more than 3.8 lakh jobs, while mining is expected to lose a little over 7,000 jobs.
But these numbers do not reveal the real picture. Annually, around 86 lakh people are joining the employment market, with many remaining untracked. Tracking those organisations that employ less than 30 people will help present a more rounded view of the market. Those engaging less than 30 are not required to disclose certain statistics, though, Mr Rajan said. The organised sector, in reality, is much bigger.
While the definition of the organised sector should be broadened, the unorganised sector can not be wished away. A genuine legislation, low on reservation and high on regulation, is needed to set up institutes, which will train manpower in the unorganised sector to make them employable. “In the next three years, over 10 lakh jobs can be created in the unorganised sector by way of flexi-staffing,” he added. For every person employed in mega corporations like Unilever or ITC, 2.5 people are doing the work in the unorganised sector, he said.
Last year, 4.25 lakh people went overseas, and the new liberalisation phase could witness a 5-6% increase in this number. And corrections in the immigration laws can easily turn this into a million, he noted. L&T’s executive director and head of construction division, KV Rangaswami, said the construction sector is the biggest employer after agriculture.
There are over 60,000 construction workers and employment in the sector has been growing 13% annually.
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