Team Blitz India
NEW DELHI: The Indian job market is expected to expand by 22 per cent over the next five years, according to a recent study by the World Economic Forum (WEF). Artificial intelligence (AI), machine learning, and data segments will create top jobs, it said.
According to WEF’s most recent Future of Jobs study, 69 million new jobs are expected to be created globally over the next five years.
The survey included 803 companies, which combined employ more than 11.3 million people across 45 economies from across the globe and 27 sector clusters.
Job growth drivers
The report estimated that 61 per cent of companies think broader applications of environment, social, and governance (ESG) standards will drive job growth, followed by increased adoption of new technologies (59 per cent), and broadening digital access (55 per cent).
The manufacturing and oil and gas industries have the greatest global levels of green skill intensity, according to the survey, with India, the US, and Finland topping the list for the oil and gas industry.
Compared to the global average of 87 per cent, 97 per cent of respondents in India indicated that “funded by organisation” was their preferred source of funding for training.
Agriculture, education
However, agriculture and education will create the most jobs in absolute terms. According to the report, employment in the education sector is predicted to increase by 10 per cent, creating 3 million new jobs for university and higher education professors as well as teachers of vocational education.
Jobs for agricultural professionals, especially agricultural equipment operators, graders, and sorters, are expected to see a 15-30 per cent increase, leading to an additional 4 million jobs.
