India Tops Asia Pacific for Job Outlook

Almost 68 per cent of employees plan to increase headcount due to the adoption of AI and Machine Learning over the next 2 years…reports Asian Lite News

India has offered the strongest employment outlook in Asia Pacific (APAC) at over 30 per cent in the third quarter (Q3) of 2024, a new report showed on Tuesday.

According to the global workforce solutions company ManpowerGroup, the strongest hiring intentions continue in North India at over 36 per cent.

The survey, gathering data from 3,150 employers depicted the financial and real estate industries as forerunners in creating employment followed by healthcare and life sciences.

“The real estate sector has seen an increased investor interest with a capital inflow to the tune of $1.1 billion led by the residential sector,” said ManpowerGroup’s India and Middle East Managing Director Sandeep Gulati.

Among the industry size, large organisations (1,000 to 4,999) indicated the strongest optimism in hiring with the Net Employment Outlook of 42 per cent followed by small (50 to 249) and medium (250 to 999) organisations (34 per cent) and large enterprise (30 per cent).

Moreover, the report showed that over 62 per cent of employers have adopted artificial intelligence (AI) including generative conversational AI with 80 per cent of the senior leadership team optimistic about the positive impact of AI on overall business as opposed to 68 per cent of frontline and factory workers.

Almost 68 per cent of employers plan to increase headcount due to the adoption of AI and Machine Learning over the next 2 years.

As India embarks on its ambitious semiconductor journey, the country will require 2.5 lakh-3 lakh skilled professionals by 2027 across Research and Development (R&D), design, manufacturing and advanced packaging domains, a report showed on Monday.

De-risking initiatives by the world’s leading electronic manufacturers, coupled with targeted government initiatives and India’s talent pool, have led the country to occupy a key position in the global semiconductor manufacturing space, according to the report by TeamLease Degree Apprenticeship.

Expected to become a $100 billion industry by 2030, the expansion is poised to generate approximately 1 million global jobs by 2025–2026, aligning with India’s broader economic and industrial growth objectives.

The Electronics Sector Skill Council (ESSC) currently offers over 35 apprenticeship courses under the National Apprenticeship Promotion Scheme (NAPS) scheme to address skill shortages at various levels of entry-level work.

To address this gap, the TeamLease Degree Apprenticeship is actively collaborating with academia, government bodies, and industry leaders.

Ramesh Alluri Reddy, CEO of TeamLease Degree Apprenticeship, emphasised upon the need to increase employment in India, especially in light of the $15 billion investment in three semiconductor plants.

This investment results from the India Semiconductor Mission (ISM) and the Production Linked Incentive (PLI) scheme.

“Advancements in AI-driven technologies are pushing India towards higher-value activities in the semiconductor industry. AI-powered chip design and smart manufacturing are creating a demand for professionals skilled in artificial intelligence (AI), Internet of Things (IoT) and 5G,” said Reddy.

Building an ecosystem for higher value creation activities and cultivating a competent workforce through degree apprenticeships and training programmes is crucial to establish India as a significant player, the report mentioned.

The PLI scheme, in particular, offers a $1.7 billion incentive package for companies establishing semiconductor manufacturing facilities in the country.

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