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The SAD story of India's (Highly Educated) but Unemployed Youth | Akshat Shrivastava

Akshat Shrivastava・23 minutes read

Jobs in India like MBA chaiwala and bch chaalis are not aspirational but a result of circumstances, with a focus on unemployment and lack of formal employment options. Dr. Rajan recommends shifting towards service sector jobs and attracting high-paying roles like private equity to address the talent retention issue and boost job creation in the country.

Insights

  • The majority of India's current job landscape is driven by necessity rather than aspiration, highlighting the pressing issue of unemployment and lack of quality employment opportunities in the country.
  • To address the challenges in India's job market, there is a need to shift focus towards service sector jobs, attract high-paying opportunities like private equity and investment banking, and implement apprenticeship-based models to enhance skills and create a more sustainable employment environment.

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Recent questions

  • What are some challenges faced by the job market in India?

    The job market in India is currently grappling with issues such as high unemployment rates, especially among the youth. Traditional business programs are criticized for lacking practical insights, leading to a mismatch between skills and job requirements. Additionally, the decline in IT jobs and the shift of startups towards profitability over expansion have impacted hiring numbers. The informal sector employs a significant portion of India's workforce, highlighting the lack of formal employment opportunities.

  • What is the Scaler School of Business in Bangalore known for?

    The Scaler School of Business in Bangalore is renowned for offering a management program that is designed by industry leaders. This program aims to bridge the gap between theoretical knowledge and practical skills required in the business world. By providing insights and expertise from professionals actively working in the industry, the school equips students with the necessary tools to succeed in the competitive job market.

  • How can India address the lack of quality employment opportunities?

    To address the lack of quality employment opportunities in India, Dr. Rajan suggests focusing on service sector jobs. By emphasizing industries that export globally and focusing on sectors like private equity, VC, consulting, and investment banking, India can attract high-paying job opportunities. Implementing apprenticeship-based models to enhance skills and creating a reward system for educational institutes to ensure accountability are also recommended strategies to improve the job market.

  • What is the current trend in job creation in India?

    The current trend in job creation in India is shifting towards industries that prioritize profitability over expansion. Major firms like Infosys have been cutting jobs in the IT sector, leading to concerns about the future job market. Startups in India are also focusing on profitability, which has impacted hiring numbers. This trend highlights the need for a strategic approach to job creation that balances growth with sustainability.

  • Why is capital expenditure important for job creation in India?

    Capital expenditure is crucial for job creation in India as it provides the necessary resources for small and medium enterprises to grow and expand. By supporting these businesses, the government can stimulate economic growth and create more job opportunities. Additionally, investing in capital expenditure helps in attracting industries that export globally, which can further boost the job market in India.

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Summary

00:00

India's Job Market: Challenges and Solutions

  • MBA chaiwala and bch chaalis jobs in India are not aspirational but born out of circumstances.
  • People in India are looking up to role models like elav or DOA, aspiring to be like them.
  • Unemployment in India is a pressing issue, leading to concerns about the future job market.
  • The job situation in India is dire, with traditional business programs lacking practical insights.
  • Scaler School of Business in Bangalore offers a management program designed by industry leaders.
  • IT jobs in India have seen a decline, with major firms like Infosys cutting jobs.
  • Startups in India have shifted focus to profitability, impacting hiring numbers.
  • The majority of India's workforce is in the informal sector, highlighting the lack of formal employment.
  • Capital expenditure and support for small and medium enterprises are crucial for job creation.
  • Dr. Rajan suggests focusing on service sector jobs to address the lack of quality employment opportunities in India.

15:22

"India's Global Service Sector Success Strategy"

  • Industries exporting globally, focus on service sector for success.
  • Talent retention issue due to limited high-paying job opportunities in India.
  • Need to attract jobs like private equity, VC, consulting, investment banking.
  • India lags in millionaire migration compared to China, action needed.
  • Suggestions for apprenticeship-based models to enhance skills.
  • Implementing a reward system for educational institutes to ensure accountability.
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