The future of work in India
This is originally a thread on twitter
India employment in numbers; stats that will blow your mind. And why becoming ‘Atmanirbhar’ (self-empowerment) is our only way out in the long term. A thread.
Over 15 million people clear class 12th in India, less than 100K seats available in top institutes
10 million+ people clear UG/PG/diploma in India, less than a million jobs available in formal sector and government jobs
In fact, It was usual for Indian IT companies to hire 250K people in a year at a point in time. Today that number is less than 100K.
Imagine: multi-billion dollar industries have been created to influence an outcome of getting into a great institute or a government job. But..
We have 500M+ people in our workforce, 80M+ will enter the workforce in the next 4-5 years; Most of them would not end up in the formal sector.
Sow what are they going to do? What do many of them already do?
A new world is opening up
Millennials loves freelancing: we are home to the second largest freelancer population in the world.
Over 20M freelancers, estimated to double every 4-5 years in the next decade
Millennials are internet-preneurs: they find new ways to earn on the internet
In the past few years, Meesho has made impacts in the lives of 10M+ entrepreneurs!
Estimated over 5-10M people are microinfluencers or running their own brand or gig on Instagram. All in the last 5-7 years.
What’s even more unique is that we millennials ‘invest’ in multiple skills.
They will work in an IT firm and run a product development studio. They will help people with diet plans on one Instagram page and run a Makeup studio on another.
The amount of hustle and energy our generation has is unprecedented. We are unstoppable.
Internet is such a great leveller. Today with our very hardworking and talented youth, whose aspiration transcends beyond becoming a doctor or engineer, we are at the cusp of a revolution in the next decade
With global workforce becoming distributed, I am only optimistic about India becoming the productivity capital of the world.
At Airblack, we are empowering our talented and aspirational youth with disproportionate advantage of the best knowledge and tools to thrive in the global digital economy.
We are on a journey to make a dent in the employment trajectory of Asia over the next decade.
