Welcome to the February issue of ValueNotes Connect.
There’s been much debate around whether enough employment opportunities are being created to absorb India’s growing working population. According to a recent report published by the ILO, 18.3 million people in the country were unemployed in 2017; this number is expected to grow to 18.9 million in 2019. Can the services industry help drive job creation in the country?
As one of the country’s most labour intensive sectors, any growth in India’s travel and tourism industry will directly boost employment. The sector contributes 9% of the country’s GDP and 9% of total employment. Investments are being made in building airports, better rail services, new roads, smart cities… And much more is needed in other ancillary services such as last mile connectivity (transport to city centres and tourist sites), tourist offices and hygiene standards at tourist places. No doubt the opportunities are immense.
Another interesting industry segment is India’s logistics sector. Currently estimated to be worth ~$115 billion, the sector is expected to triple by 2032. With the markets opening up to foreign goods, and e-commerce companies setting up shop in the country, consumers today are spoilt for choice. One of the biggest enablers of this is the logistics and supply chain sector. Although marred by inefficiencies, this sector is on a growth trajectory in India.
Do have a look at our infographic that illustrates the top-ten trends that impact the future of work.
As always, we hope you enjoy reading our newsletter, and we look forward to your comments.
Tourism – Low-hanging fruit to increase employment!
by Rathin Shah
|There can be endless debates on PM Modi’s “Pakora” comment regarding employment generation. However, one thing is certain that, with lakhs of students graduating each year, there is an urgent need to create employment. If one just has to focus on low hanging fruit instead of doing anything spectacular, tourism emerges as the lowest fruit available for plucking. With cheaper airfares and disruptive business models like Airbnb getting traction, the Indian travel industry appears to have good prospects.|
Logistics in India – in for a rosy future!
by Manju Karajgikar
|The other day while shopping online for Canadian maple syrup from the comfort of my home, I remembered the 1980s when we depended on our relatives abroad for so many ingredients. With the markets opening up to foreign goods, and e-commerce companies setting up shop in the Indian markets, consumers today are spoilt for choice. One of the biggest enablers of this is the logistics and supply chain sector. Although marred by inefficiencies, this sector is on a growth trajectory in India.|
Some client problems we have solved: