On October 23rd, 2014, we updated our
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The global offshore market will reach upwards of $160 billion by 2009. The market will continue to grow in line with demand, at an approximate rate of 33 percent a year for the next three years.
Non IT-off shoring, which was virtually non-existent five years ago, will represent, nearly half (45 percent) of the offshore market in three years.
Exports of Indian IT and IT enabled Services (ITeS) continued to grow for the fourth year in a row with an increase of 33% to touch $23.6 billion in ’05–06 , according to reports by India’s industry association, Nasscom.
The projected growth in the exports for the year ’06–07 will continue to outstrip the growth in the domestic market, the industry is expected to meet its target of being a $60-billion industry by 2010 .
Nasscom has also projected that exports will grow 27%–30% in ’06–07 to $29–$31 billion, while the overall industry is expected to grow 25%–28% to $36–$38 billion.
The domestic market for software is estimated to reach $6 billion in the current year from $4.8 billion in the previous fiscal year
Number of regular employees of Indian Railways in 1997: 1,583,614 (standing world record 2004) [GWR]
Number of people applying for 22,000 jobs advertised by the Indian Railway (2003):740,000
Planned number of staff of Reuters news agency to work in Bangalore by 2006: 2,500 (or 10 % of Reuter's total workforce) [BBC Oct 04]
- * working population: 699.9 million [*2005] - domestic workers in India: 14 million - women employed in rural areas: 31 % - women employed in cities: 11 % - people registered as unemployed with 936 employment exchanges: 41.6 million (beginning 2004) - employment in the unorganized sector: 91.39 % of work force
- employed in agriculture: 48 % (2005)
The Talent Pool today
Reports say only 25 per cent of technical graduates and 10-15 per cent of general college graduates are suitable for employment in the offshore IT and BPO industries respectively .
The IT industry today employs 1m workers, but faces a shortfall a shortfall of 500,000 professional by 2010 threatening its dominance of global offshore IT-services, warns a report published by business consultancy McKinsey and Nasscom.
According to the All India Council for Technical Education, India produced 401,791 engineers in 2003-04, 35 per cent being computer engineers.
In 2004-05, the number of engineering graduates increased to 464,743, of which 31 per cent were computer engineers.
Compared to India and China, the United States produces only 70,000 engineering graduates every year.
All of Europe produces just 100,000.
The Talent Pool today
India currently has 113 universities and 2,088 colleges, many of which teach various engineering disciplines.
Engineering colleges in the country have been growing at 20 per cent a year, while business schools have grown at 60 per cent.
Five Indian states -- Tamil Nadu, Andhra Pradesh, Maharashtra, Karnataka and Kerala -- account for 69 per cent of India's engineers.
Uttar Pradesh, Bihar, Gujarat, Rajasthan and Orissa account for only 14 per cent.
Beyond IT and Bio-Tech
Media , Journalism, Entertainment , Web based earning opportunities, Agri- research, Pharma, Retailing, advertising are just few of the career options which are the fastest growing and highly lucrative career options.
Tourism and Health services continue to grow exponentially and India is being packages as a hot destination for Tourism with affordable and quality health services.
However we lack quality and affordable hotels to meet the growing demand of hotel accommodations.
Entrepreneurship is what we need, but we don’t have train people to become successful entrepreneurships.
Are we prepared to be pro-active and learn from the mistakes of past or we will continue to be reactive and regret later.
Are you ready ?
Effectiveness and speed in execution
Focused and Result oriented
Continuous learning ,unlearning and re-learning
Food for Thought
Do you have marketable skills and competencies which is the need of the hour?
Does your institutions helps you to meet the ever changing career opportunities. In other words do you think you are acquiring saleable Knowledge and Skills ?
Are you aware about the opportunities which your stream of education offers today?
Can you think beyond jobs ?Are you willing to explore the untapped market potential and become an entrepreneur.
In other words do you have a healthy disrespect for the present mode of acquiring degree/certificates.