In the middle of a glum economic mood, the job market for professionals in the Indian hospitality, healthcare, IT and IT-enabled services (ITes) and media and entertainment is growing and expected to create 16 lakh new jobs in the current financial year, according to an ASSOCHAM paper
The Compound Annual Growth Rate (CAGR) in the Indian hospitality, healthcare, IT and IT-enabled services (ITes) and media and entertainment is likely to be 20-25 per cent, an ASSOCHAM paper on “Emerging opportunity in rising sectors” said. Healthcare and hospitality sectors would grow the most among these verticals, followed by media and entertainment and IT and ITes.
It said healthcare itself is expected to add 4,00,000 jobs by 2014. It is already one of India’s largest service sectors with estimated revenue of about Rs 2.5 lakh crore (about five per cent of GDP).
As per the ASSOCHAM Research Bureau study, Kochi has the major share of 34.20 per cent as the most prominent employment source. It is followed by Coimbatore (12.70 per cent), Bengaluru (6.12 per cent), Delhi-NCR (six per cent) and Hyderabad (four per cent) at second, third, fourth and fifth positions respectively during April 2011 to April 2012.
|Maharashtra govt to train tribal youths for aviation, hospitality|
Maharashtra Government has approved a scheme to provide training for jobs in the aviation and hospitality sectors to youths from scheduled tribes (ST). The government will help educated ST youths to train for careers such as air hostess, cabin crew, hotel management staff or customer care staff. The scheme will start this year, to be implemented by the Tribal Welfare Department.
The training will be of one-year duration, and government will spend Rs one lakh per candidate, which would cover expenses on accommodation, food, uniform and study material.
A hundred candidates each will be selected from Thane, Pune, Nashik, Aurangabad and Nagpur districts. They would be also helped with finding jobs. In 2006-07, Rs One crore had been allocated by the Centre for training the tribal youths as air-hostess and for other related careers. Accordingly, 100 tribal students were trained at air hostess academy in Pune, of which 34 girls and three boys got jobs. The Centre has now decided to discontinue the initiative, which would be taken up by the state government.
“The job creation is happening at all levels. Even in the engineering and management colleges the campus placement trends are positive. Though cautious, corporate are back with their campus programmes. The trend is expected to continue for another next 6-12 months”, says D S Rawat, secretary general, ASSOCHAM. However, aviation, finance, real estate and textile sectors are witnessing steep decline, as these are sensitive to downturns, the paper said.
By 2025, the Indian population will reach 1.4 billion, 45 per cent of them being urban adults. To cater to this demographic change, the healthcare sector will have to be about US$ 100 billion in size (eight per cent to 10 per cent of GDP). Medical tourism, diagnostics and pathology will contribute hugely, growing to US$ two billion each by the end of 2013, adds the ASSOCHAM paper.
With domestic tourism on the upswing, the sector is expected to add 3,50,000 jobs this year. Rupee depreciation has seen foreign tourist arrivals increase by 12 per cent in one year. Moreover, Indians themselves have become quite footloose.
Tourist growth is expected to be from five million now to nine million by the end of the 12th plan period. “This will mean the industry will need to create 24.5 million new jobs by 2016,” adds Rawat. Just as the depreciating rupee encourages foreign tourists to come to India, it also discourages Indian tourists to go abroad.