What are the characteristics of Indian Workforce?
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What are the characteristics of Indian Workforce?
5 points.
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Answer:
The Indian workforce has three distinct characteristics: (a) It is a young workforce; (b) the skills base of this workforce remains underdeveloped; and (c) most jobs are being created in the informal economy. These supply-side characteristics are explained first.
Answer:
(a) It is a young workforce;
(b) the skills base of this workforce remains underdeveloped; and
(c) most jobs are being created in the informal economy.
Explanation:
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The future of the Indian workforce: A new approach for the new economy
21 March 2018
SAMIR SARAN
VIVAN SHARAN
Fourth Industrial Revolution,Future of Work
India is at a crossroads. It has the largest young workforce anywhere in the world, and is the fastest growing economy today. At the same time, the economy is not creating enough jobs, and therefore not fully harnessing its “demographic dividend” in preparation for the “Fourth Industrial Revolution”. To create more and better jobs, certain fundamental realities need to be recognised – the untapped opportunities in the services sector, the imperatives of policy and regulatory stability, and the welfare needs of a new workforce. After briefly analysing the supply-side context (the characteristics of the so-called “demographic dividend”), this paper outlines a basic strategic roadmap for the demand side with a focus on constituents of the new economy (the industries that will have to generate new employment). It concludes with recommendations that can help bridge supply-side gaps, and demand-side imperatives.
Characteristics of the Indian Workforce
The Indian workforce has three distinct characteristics: (a) It is a young workforce; (b) the skills base of this workforce remains underdeveloped; and (c) most jobs are being created in the informal economy. These supply-side characteristics are explained first.
The Indian workforce is young and will remain young in future decades – a trend that immediately separates India from advanced economies; in which ageing workforces have to carry the mantle for the “Fourth Industrial Revolution”, characterised by “a range of new technologies that are fusing the physical, digital and biological worlds, impacting all disciplines, economies and industries, and even challenging ideas about what it means to be human”.[i] According to the National Sample Survey (NSS) of 2011-12, around 36 percent of India’s total population are under the age of 17, and approximately 13 percent are between 18 and 24 years (Table 1). While over 41 percent of the population between 18 and 24 years are already part of the workforce, the others will be joining the workforce in the next two decades.