Top 5 Hot Jobs in India By 2015!

Confederation of Indian Industry (CII) in its skill development survey found that by 2015, automobile industry, retail sector, banking and financial services, construction sector and health care industry will be facing a several shortage of skilled workers. Thus, we at Shiksha.com, recommend you to aim for these Top 5 Hot Jobs in India by 2015 and choose courses and programmes that will equip you with related skills.

Automobile Industry

The Indian Automotive Industry is growing at a CAGR (Compounded Annual Growth Rate) of more than 14% and it is expected to reach $120-159 billion by 2016. It is expected that it will require over 20 to 25 lakh additional skilled workers over the next decade. The Auto-Original Equipment Manufacturers (OEMs) dominate the Automobile segment in the employment segment and directly employ about 60-70% of the manpower. Indirectly employed people in the sector belong to sales, finance, insurance, mechanics, and other related functions.

The demand for personnel with minimal skills at entry level is expected to be around 12 to 15 lakh per annum while at shop floor supervisory level, it is expected to be around 5 to 6 lakh per annum. Diploma holders passing out from an Industrial Training Institute or ITI or a polytechnic college are generally equipped for these types of jobs. About 2 to 3 lakh engineers with B.E., M. Tech. or MS degrees are absorbed in the automobile industry every year while those who have done doctorate in engineering are in demand for executive positions.

Retail Sector

Indian Retail sector is struggling with non-availability of trained manpower, especially at the management level. In a report released by Confederation of Indian Industry (CII) & ICRA Management Consultancy Services (IMaCS) on September 18, 2008, about 15 to 20 lakh personnel were employed in the organized retail segment at the time. It was estimated that about 55 to 65 lakh personnel would be working in Indian retail industry by 2015.

Worldwide, Indian retail market has been rated as the fifth largest global retail destination and the organized and unorganized retail market is expected to reach US$ 650 billion by 2015. Retail Management courses can equip students for jobs that involve managing outlets, store operations, customer services, marketing, selling and merchandising etc. There is also demand for specialized skills such as supply chain management, product development, resource development, mergers & acquisitions etc.

Banking and Financial Services

Banking, Financial Services and Insurance Sector (BFSI) in India is expected to face a huge crunch of skilled manpower. CII and IMaCS predicted that over 45 to 50 lakh new jobs will come up in the Indian BFSI sector by 2015. While customer service representatives and marketing managers will be 65% of this new workforce, 5% people will be joining the top jobs in the banking and non-banking financial services with highly specialized skills like risk management, high-end quantitative analytics, investment banking and fund management.

Despite the global meltdown, Indian financial sector is going strong and the demand for trained personnel in the field is stronger than ever. State Bank of India (SBI) has largest number of account holders in the world while the Life Insurance Corporation (LIC) offers maximum number of policies to its prospective clients. The Indian financial market's potential remains largely untapped and a lot needs to be done to help it reach its zenith.

Construction Sector

Skill gaps in Construction sector is alarming and calls for urgent attention. The second largest economic activity after agriculture, the Indian construction industry has a CAGR of 11.1%. Massive investments are being seen in infrastructure segments such as roads, ports, and power plants, which is expected to show an annual growth of about Rs 2.5 trillion for few more years. The Construction sector is also strongly linked to cement, chemicals, steel, paints, tiles, and fittings industries. In the long term, it also boosts economic prosperity of the country.

Based on the expected growth in the Infrastructure and Real Estate sectors, it is expected that about 4 crore 70 lakh people will join the construction sector workforce by 2022. Though majority of this workforce would be that of unskilled labour, 13 to 14% of people who will join infrastructure and real estate sector would hold Diploma in Engineering from an ITI. Those who graduate in civil engineering (and mechanical engineering) would join the top-end positions in the sector and would constitute about 3 to 4% of the construction sector workforce.

Health Care Industry

With over 1 billion population, Goldman Sachs predicts India to become third largest economy by 2050. Health care is one of the sunrise industries of the country. With some of the top medical universities in Asia, size of Indian health care industry is about US $35 billion and has a CAGR of more than 18% - fastest in the world. It is expected to grow to US $60 billion next year. 18,000 new doctors join the medical specialists available in the country every year.

Still the ratio of doctors to patients in India is 1:1784 as against Europe where the ratio is 3.5:1000. Though all the segments of the health care industry are growing in India, the maximum growth has been registered in the fields of Imaging Diagnostics and Clinical Lab Diagnostics. In US, there are 972 nurses per 100,000 people while in India, there are just 72 nurses per 100,000 people. Apart from MBBS, the students can also opt for Nursing programmes to enter into the health care industry.

Top 5 Hot Jobs in India by 2015 provides you a good idea about smart career opportunities for the near future. To discuss about right job choices, skills you will need, and education programs to prepare you for the jobs you choose, post your queries here.

Source: Ruchi Shrimali (Shiksha Team)