well done Team Lease. But it would have been more interesting if you have given a comparative analysis of population vs. workfoce. By 2025 what will be the population figure of India and China, the main competitor at present w.r.t population. what %ge of China will has its workforce in 2025.
I dont really understand why India always boasts of its work force. Quantity doesn't compensate for quality. What we lack currently is quality people coming out of our crap universities. Education is moulded around Engineering and medicine. Even in Engineering 80-90% on IT ..when i say IT...even though people complete engineering courses in other diciplines they will jump to IT bandwagon once they complete the course. Which it self is a risk.
1. There must be strict limit on number of engineering institutes like medical insitutes. U dont go to bad doctor... if u have disease. Similarly these umbrella of engineering collages with substandard education should go. 2. Even in collages education must be more focussed on practical aspects rather than therotical...this will make people to understand their subject much better and think out of box. 3. Innovation must be prime criteria for all those crap PHDs coming out of india. No one should be give PHd unless he really invents/ improves existing systems etc 4. Due importance should be given to other fields other than engineering and medicine. 5. Building institutions good quality is a must.
More is the population, more is the workforce... After globalization took place, this theory is pushed by all the above tycoons. Tomorrow, if any sector collapses where will the 'workforce' go???
India produces 2.5 million IT, engineering and life sciences graduates a year, besides about 650,000 post graduates in science and IT related subjects.
The IT sector alone employs about 850,000 graduates and professionals while the pharmaceutical and biotechnology sectors are snapping up others.
The government says 402 million Indians are aged between 15 and 59 — the working age — and that this number will grow to 820 million by 2020.
By 2020 the United States would be short of 17 million people of working age, China of 10 million, Japan of nine million and Russia of six million.
Indians could well be absorbed into some of these economies, experts say.
With an average age of 26, India is undoubtedly a younger country than China — at about 35-37 years — and will have the largest workforce in the world by 2020.
Re: Huge Indian Workforce a great asset
by Karthik R on Jun 21, 2010 10:11 PM
Hi Jagadeesh, hats off to the statistics. Unfortunately the numbers don't quite add up in reality like apples and mangoes because what ultimately matters to the industry is "quality" output from these institutions which is certainly not the case today. That's where China will eventually surpass us because of their power to implement radical reforms at such rapid pace. In India, the government makes plans, implements them when the statistical basis for those plans become meaningless. Extremely difficult to imagine given the current state of affairs that India can really match up. At heart though - I do sincerely hope it does despite the odds stacked up against it.
This is indeed a wake-up call to the Labour Ministry to amend our archaic Labour laws and draft amendments to include safeguards for employees - especially those working in the private sector. This also needs the Ministry for education to focus on imparting quality education to all, reduce the number of school dropouts especially in villages, offer tax-breaks on school/college fees and work towards churning out quality graduates /post-graduates to keep up with the growing industry demand. While the news headline seems heartening, one should also bear in mind that labour laws are pathetically inadequate in India and largely favour the elitist capitalist part of society that get away by making interpretations of the laws to their advantage. Also, government-backed organizations such as the Employee Provident Fund really need to get better with time in terms of efficiency and disposal of pending cases. Its easy to feel carried away by such bits of news but there is a hell lot of work required to be done to make the life of an employee much easier than it is today. Finally - hope the bogie of hooligans that play vote-bank politics and mislead the backward classes to crave for the "backward" tag, don't view this as an opportunity to step up their demand for caste-based reservations in the private sector.
Re: Labour laws
by Virtual Insider on Jun 21, 2010 10:17 PM
We have 95 % of hands and legs (population) and thats enough to reduce and deplete all the environmental and other resources....
people going to be a servant for the rest of the world must remember to send the money back and not spend it all in the local casinos. otherwise things will be worse than before.
finally do not turn into ass-kissing coconuts but try to care about your own culture
The idiots home, must stop buying products which sends a lions share of the profit overseas to a white person for stuff made by indian labours using indian resource
